Bitcoin climbed above $80,000 after rebounding from a seven-week low of $75,600 reached following the Democrats’ decisive midterm election victory. The rally triggered the liquidation of $380 million in short positions within an hour, while Bitcoin’s market capitalization recovered to $1.610 trillion and its dominance over altcoins rose above 60% again. Ethereum moved back above $2,400 and XRP reached $1.32, but SOL remained below $100 despite gaining 3.7% over the day. The official meme coin linked to the US president, TRUMP, fell another 15% in 24 hours to a three-month low, while the total crypto market capitalization increased by 2.3% to $2.690 trillion.
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