Bitcoin is up 4% in a day, reclaiming $80,000 following reports of a Democratic sweep of Congress.
| Cryptocurrency | Ticker | Price |
| Bitcoin | (CRYPTO: BTC) | $80,300 |
| Ethereum | (CRYPTO: ETH) | $2,425 |
| Solana | (CRYPTO: SOL) | $96.02 |
| XRP | (CRYPTO: XRP) | $1.32 |
| Dogecoin | (CRYPTO: DOGE) | $0.07705 |
| Shiba Inu | (CRYPTO: SHIB) | $0.05476 |
Notable Statistics:
- Coinglass data shows 129,472 traders were liquidated in the past 24 hours for $983.34 million.
- SoSoValue data shows net outflows of $115.6 million from spot Bitcoin ETFs on Tuesday. Spot Ethereum ETFs saw net outflows of $85.4 million.
- In the past 24 hours, top gainers include Zcash, PancakeSwap and Stacks.
Notable Developments:
- Bitcoin Rallies 2%: Could Tightening Supply Spark a Bigger Rally?
- Morgan Stanley Joins Tokenization Push as Banks Double Down on Blockchains
- Bitcoin Fear Spikes on Democrat Sweep but $79,000 Could Flip the Script
- XRP Millionaire Wallets Surge but Price Stuck at $1.28: What’s Going On?
Trader Notes:
Bitcoin rebounded towards $80,000 after briefly falling below $76,000, defying bearish expectations following Democrats’ reported congressional sweep and the $6.3 billion Binance hack.
Crypto commentator Scott Melker and Ledn co-founder Mauricio Di Bartolomeo highlighted strong dip-buying demand despite growing regulatory uncertainty.
Di Bartolomeo warned that Democratic control could derail the Clarity Act and trigger stricter crypto oversight.
He argued that rising U.S. debt and persistent deficits could strengthen Bitcoin’s long-term appeal.
Melker highlighted Bitcoin’s bounce from its 50-week moving average, while Di Bartolomeo identified $75,000 as key support, with a break below $70,000 potentially threatening the bullish outlook.
Image: Shutterstock
