Bitcoin Bounces Back Above $80,000 — Up 5% in One Day! $BTC
What a comeback! Bitcoin fell to about $75,600 during the US midterm election results on Wednesday, then bounced back hard. By this morning (Thursday 5 November, around 9:00 AM PKT), Bitcoin was trading near $80,500 — up about 5.4% in 24 hours.
Why did it jump? Three reasons:
• US spot Bitcoin ETFs saw $74.6 million of fresh inflows on 4 November, after three days of money leaving.
• Nearly $378 million of short positions were liquidated in just one hour — traders betting against Bitcoin had to buy back fast.
• US stocks also rallied after the election results, and the Fear & Greed Index jumped from 34 to 50 (Neutral).
Ethereum joined the move too, up about 7.5% to near $2,428. The whole crypto market is now worth about $2.79 trillion, up 5.1% in a day.
Levels everyone is watching: resistance is $81,300–$82,000 — if Bitcoin breaks above it, the next stop traders watch is near $84,200. Support sits at $78,000, then $76,000. A fall back below $80,000 would put those supports in focus.
Do you think Bitcoin holds above $80,000 this week, or is this just a bounce before another dip?
Educational content only, not financial advice.
#BinanceSquare #WriteToEarn #Bitcoin #CryptoNews
What a comeback! Bitcoin fell to about $75,600 during the US midterm election results on Wednesday, then bounced back hard. By this morning (Thursday 5 November, around 9:00 AM PKT), Bitcoin was trading near $80,500 — up about 5.4% in 24 hours.
Why did it jump? Three reasons:
• US spot Bitcoin ETFs saw $74.6 million of fresh inflows on 4 November, after three days of money leaving.
• Nearly $378 million of short positions were liquidated in just one hour — traders betting against Bitcoin had to buy back fast.
• US stocks also rallied after the election results, and the Fear & Greed Index jumped from 34 to 50 (Neutral).
Ethereum joined the move too, up about 7.5% to near $2,428. The whole crypto market is now worth about $2.79 trillion, up 5.1% in a day.
Levels everyone is watching: resistance is $81,300–$82,000 — if Bitcoin breaks above it, the next stop traders watch is near $84,200. Support sits at $78,000, then $76,000. A fall back below $80,000 would put those supports in focus.
Do you think Bitcoin holds above $80,000 this week, or is this just a bounce before another dip?
Educational content only, not financial advice.
#BinanceSquare #WriteToEarn #Bitcoin #CryptoNews
