Bitcoin rockets above $80,000 for first time since Binance hack despite Democrats sweep, but a historical crash looms

Bitcoin climbed over 5% from its election-night low, breaking back above the $80,000 threshold for the first time since the record-breaking Binance hack. The digital asset extended its upward momentum from a Wednesday low of roughly $75,600, brushing off worries that a Democratic takeover of Congress might stall President Donald Trump’s supportive cryptocurrency initiatives. Data provided by CoinGlass shows that this strong market surge resulted in $453.32 million in liquidations…

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Frequently Asked Questions

• What milestone did Bitcoin reach?
  Bitcoin climbed past $80,000 for the first time since the Binance hack.
• How much did Bitcoin rise from its low?
  It surged more than 5% from its election-night low, recovering from approximately $75,600 on Wednesday.
• What political concern did the market brush off?
  The rally shook off worries that a Democratic takeover of Congress would undermine President Donald Trump’s pro-crypto agenda.
• How much was liquidated during the rally?
  CoinGlass data indicates that $453.32 million was liquidated.