Bitcoin rebounded more than 5% from its election-night low of approximately $75,600 to reclaim $80,000. The rally triggered $453.32 million in liquidations over one hour and $913.34 million over 24 hours, with 96.3% of liquidated Bitcoin positions being shorts. CoinShares said the Democratic sweep could hinder the CLARITY Act and investigations into Donald Trump’s cryptocurrency businesses, although Bitcoin itself may be less affected than companies in the sector. Weak demand, highlighted by three consecutive sessions of withdrawals from US spot Bitcoin ETFs, is limiting the advance, while previous election cycles were followed by corrections of up to 49.7%.
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