Bitcoin (BTC) climbed above $80,000 early Thursday after sliding to a seven-week low following the U.S. midterm results, leading a broad recovery in crypto prices.
BTC touched $81,000 during the rally and remained above $80,000 at 4:48 a.m. ET (09:48 UTC). Short positions worth $380 million were liquidated within an hour as prices surged. Bitcoin’s market capitalization rebounded to $1.61 trillion, while its share of the crypto market moved above 60%.
Official Trump (TRUMP) fell another 15% over 24 hours after reaching a three-month low Wednesday. Ether (ETH) climbed above $2,400, and XRP rose to $1.32. Solana (SOL) gained 3.7% but stayed below $100. Hyperliquid’s HYPE token fell nearly 4% to $83.
The total crypto market capitalization increased 2.3% in 24 hours to $2.69 trillion. BTC had fallen to $75,600 after the midterm results, then recovered toward $78,000 before rising further during U.S. trading Wednesday.
Enna Lee
Enna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to [email protected].
