Bitcoin hits $80.5K as US stocks rally on midterm election results Bitcoin climbed toward $80,500 as risk assets rallied on Democrats’ midterm election gains and oil prices fell.
Bitcoin (BTC) returned to $80,000 at Wednesday’s Wall Street open as US stocks surged following a Democratic sweep in the midterm elections
Key points: – Bitcoin jumped past $80,500 at the start of Wednesday’s Wall Street trading session as risk assets gained following the US midterm election results. – S&P 500 futures rebounded from a three-month low of 7,490 points as The Kobeissi Letter described the equities move as a “textbook bear trap.” – Hopes for an end to the US-Iran war sent WTI crude oil below $93 per barrel. Analyst eyes BTC price “relief rally” after midterms Data from TradingView showed BTC/USD up by over 4%, having rebounded from its lowest levels in seven weeks. BTC/USD four-hour chart.