COINDESK · 2026-11-05 10:57 UTC

Live updates: Bitcoin steady around $80,000 as markets rally after Democratic sweep

Bitcoin climbed back above $80,000 on Thursday after falling to $75,700 on midterm election day, as Democrats took control of both chambers of Congress. Major stock indices rallied 1-3% Wednesday, oil fell nearly 9%, and crypto assets gained 2-4% as investors saw the Democratic sweep as reducing geopolitical tensions and inflation risks. U.S. spot bitcoin ETFs received $75 million and ether ETFs drew $53 million on Wednesday; Democrats are expected to oppose the CLARITY Act crypto regulation bill.

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