Bitcoin (BTC USD value) closed above $80,000 on Wednesday, November 4, the day after Democrats received management of each chambers of Congress, rising 3.9% whereas Trump-branded belongings sank, with Trump Media inventory down 24.5% and the TRUMP memecoin down 19.9%.
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That’s not the response many in crypto anticipated from a Democratic Congress.
Bitcoin traded at $80,391 on Binance at 10:10 UTC on Thursday, after its first day by day shut above the 50-day EMA for the reason that October 29 Binance hack. The Crypto Concern & Greed Index climbed from 26 on election day to 50 on Thursday, its first impartial studying since October 29.
Politics nonetheless price the trade one thing. The chances of a crypto market construction regulation this yr slipped, and the candidate crypto PACs spent most to cease received the race.
So did the swap from Republicans to Democrats flip crypto sentiment, or simply the Trump commerce?
Bitcoin shouldn’t be a retailer of worth. It elevated.
— CZ BNB (@cz_binance) November 5, 2026
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Did the Democratic Sweep Flip Crypto Sentiment?
Sure, and it flipped towards calm. Bitcoin, Ether, and the biggest crypto shares all rose on Wednesday, forward of the Nasdaq Composite’s 1.4% achieve.
Technique (MSTR) gained 5.1% and Coinbase (COIN) rose 4.2% by Wednesday’s shut. Solana and XRP added 3% and a couple of.2%.
The rally got here with no rush into leverage. The funding charge on OKX’s Bitcoin perpetual swap, the price longs pay shorts each eight hours, stayed at or simply underneath its 0.01% default by means of the vote.
Coverage seems to be weaker. On Polymarket, merchants put the possibility of a crypto market construction regulation in 2026 at 6.6% on Thursday, down from 8.45% earlier than polls closed. Many of the hope had already gone when the CLARITY Act failed a Senate vote 49–50 in September.
Crypto cash additionally misplaced its largest race. In Ohio, former Senate Banking Committee chair Sherrod Brown, a long-time crypto critic, received again a Senate seat after crypto PACs spent greater than $60 million in opposition to the marketing campaign.
Why Did Trump-Branded Property Fall?
The market offered Trump, not crypto. Trump Media (DJT) fell 24.5% on Wednesday to $4.49, the TRUMP token hit a report low of $1.219, and World Liberty Monetary’s WLFI misplaced 6.1%.
These belongings commerce on the president’s political attain as a lot as on crypto costs. A Democratic Home and Senate shrink that attain for the following two years.
Trump Media has its personal deadline too. Holders of its $1 billion convertible notes can demand money on November 30, a November 2 submitting reveals.
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BTC USD Worth Evaluation: Can Bitcoin Worth Maintain $80,000?
Wednesday’s $80,504 shut was Bitcoin’s first above the 50-day EMA since October 28, the day earlier than the Binance hack. It additionally cleared the 20-day EMA, which final occurred on October 21.
These two averages now sit at $79,990 and $80,159, lower than $200 aside, so the $80,000 space is the primary ground.
Path
What has to occur
Subsequent cease
Push larger
A day by day shut above $81,971, the October 29 excessive
$84,898, the October 21 excessive
Stall
Holding between $80,000 and $81,971
Extra vary buying and selling across the two EMAs
Slip
A day by day shut again under $80,000
$75,736, the election-night low
Above $81,971, the hack-day drop can be gone from the chart.
The midterms eliminated one unknown for BTC USD. The subsequent check is whether or not consumers keep with no Trump-friendly Congress behind them.
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The submit BTC USD Closes Above $80,000 After the Democratic Sweep Whereas Trump-Branded Property Crash: Did the Midterms Flip Crypto Sentiment? appeared first on 99Bitcoins.
