Bitcoin tops $80,000 amid US post-election rally, $330 million wiped out
Business
Bitcoin just broke the $80,000 mark (about ₹76 lakh), with Ethereum and major altcoins jumping too, all thanks to a post-election rally in the US.
The sudden surge caught bearish traders off guard, leading to $330 million in short positions getting wiped out in just one hour.
US midterms lift crypto, analysts warn
The US midterm election results brought some political clarity and got more people interested in riskier assets like crypto.
Bitcoin jumped 3.1% in a day, but analysts warn that things could stay bumpy with possible new regulations and big ETF outflows this month.
They're also watching if Bitcoin can hold above key price levels as market uncertainty continues.