Bitcoin jumps above $81,000 as US midterms deliver mixed signals

Bitcoin staged a sharp recovery on Wednesday, climbing from an intraday low of 75,618 dollars to a peak of 81,105 dollars — the first time it crossed 81,000 since 29 October. By 12:35 EST the price stood near 80,335 dollars, lifting market capitalisation close to 1.62 trillion.

The move came even though early election results pointed to Democratic control of both chambers of Congress, reducing the number of pro-crypto lawmakers and raising prospects of tougher oversight for the industry.

Nearly 307 million dollars in short positions were liquidated in a single day, fuelling the advance, yet Bitfinex analysts warn the rebound rests mainly on leverage rather than fresh spot buying. ETF outflows have turned 2026 net flows slightly negative, and futures open interest hit its highest level since late September.

Michael Saylor highlighted two brighter spots: the election of a Florida governor backing a federal bitcoin reserve and a Texas Democratic senator who previously supported a state-level reserve. Attention on Wall Street is now turning back to inflation data and Federal Reserve policy.

Based on information from cryptonews.net