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Bitcoin (BTC) returned to $80,000 at Wednesday’s Wall Street open as US stocks surged following a Democratic sweep in the midterm elections.
Key points:
- Bitcoin jumped past $80,500 at the start of Wednesday’s Wall Street trading session as risk assets gained following the US midterm election results.
- S&P 500 futures rebounded from a three-month low of 7,490 points as The Kobeissi Letter described the equities move as a “textbook bear trap.”
- Hopes for an end to the US-Iran war sent WTI crude oil below $93 per barrel.
Analyst eyes BTC price “relief rally” after midterms
Data from TradingView showed BTC/USD up by over 4%, having rebounded from its lowest levels in seven weeks.
BTC/USD four-hour chart. Source: Cointelegraph/TradingView
US stock futures made swift gains on Wednesday after initially dipping overnight. S&P 500 futures fell as low as 7,490 points, their lowest level since July 31, before reaching 7,690 points,…
