🚨 Bitcoin is back above $80,000, but crypto wasn’t what pushed it up
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In early Asian trading on Thursday, BTC was around $80,484, up 5.7% in 24 hours.
And it wasn’t just Bitcoin. Ethereum rose 8% to around $2,425, XRP gained 4.7% to $1.31, SOL climbed 5.9% to $96, and BNB rose 4.2% to around $715.
The rebound actually began with Wednesday’s sell-off. When the election results came in, Bitcoin briefly dropped toward $75,700—then buyers returned.
The reason wasn’t on-chain. It was in the oil market.
Brent crude fell more than 8% on Wednesday as markets bet that Democrats taking control of Congress would ramp up pressure to end the conflict in the Middle East. Lower energy prices ease inflation and business costs. The S&P 500 rose 1.6% that day, while the dollar weakened.
BTSE COO Jeff Mei put it this way: Bitcoin rallied alongside stocks because markets see an end to the Iran conflict and high oil prices as more likely.
But he also urged caution: the CLARITY Act is basically a non-starter in its current form, and rate cuts are just as unlikely.
The real thing to watch is the market structure: in this rally, crypto is a “follower,” not the “engine.” Stocks rise, oil falls, the dollar weakens, and money spills into risk assets—with crypto simply along for the ride.
And short-term sentiment is fragile. It took just two days for Bitcoin to go from briefly falling below $75,700 to reclaiming $80,000. A move like that isn’t driven by fundamentals; it’s driven by positions being repriced.
A rebound fueled by external factors can just as easily be undone by them.
Do you think Bitcoin can hold above $80,000 this time, or is this another sentiment-driven bounce? Let’s discuss in the comments 👇
Tap my profile to watch the livestream + join my fan group for daily strategies 🚀
#比特币 #BTC #US stocks
Group: 邀请您加入我的群组 悟空粉丝群
In early Asian trading on Thursday, BTC was around $80,484, up 5.7% in 24 hours.
And it wasn’t just Bitcoin. Ethereum rose 8% to around $2,425, XRP gained 4.7% to $1.31, SOL climbed 5.9% to $96, and BNB rose 4.2% to around $715.
The rebound actually began with Wednesday’s sell-off. When the election results came in, Bitcoin briefly dropped toward $75,700—then buyers returned.
The reason wasn’t on-chain. It was in the oil market.
Brent crude fell more than 8% on Wednesday as markets bet that Democrats taking control of Congress would ramp up pressure to end the conflict in the Middle East. Lower energy prices ease inflation and business costs. The S&P 500 rose 1.6% that day, while the dollar weakened.
BTSE COO Jeff Mei put it this way: Bitcoin rallied alongside stocks because markets see an end to the Iran conflict and high oil prices as more likely.
But he also urged caution: the CLARITY Act is basically a non-starter in its current form, and rate cuts are just as unlikely.
The real thing to watch is the market structure: in this rally, crypto is a “follower,” not the “engine.” Stocks rise, oil falls, the dollar weakens, and money spills into risk assets—with crypto simply along for the ride.
And short-term sentiment is fragile. It took just two days for Bitcoin to go from briefly falling below $75,700 to reclaiming $80,000. A move like that isn’t driven by fundamentals; it’s driven by positions being repriced.
A rebound fueled by external factors can just as easily be undone by them.
Do you think Bitcoin can hold above $80,000 this time, or is this another sentiment-driven bounce? Let’s discuss in the comments 👇
Tap my profile to watch the livestream + join my fan group for daily strategies 🚀
#比特币 #BTC #US stocks
