Early Thursday morning, Bitcoin recovered past the $80,000 threshold following a dip to roughly $75,700 triggered by preliminary midterm results the previous day. Apprehension quickly dissipated when Democrats secured majorities in both congressional houses, leading market participants to conclude the outcome offered more clarity than risk.
On Wednesday, the Dow surged 3 percent, the S&P 500 advanced close to 2 percent, and the Nasdaq Composite climbed upwards of 1 percent. Meanwhile, Brent crude dropped nearly 9 percent down to approximately $95 per barrel, and the 10-year Treasury yield dropped under 4.9 percent. President Donald Trump admitted that the conflict with Iran contributed to his party’s electoral setbacks.
This scenario closely mirrors the trajectory outlined on Monday by Jeff Mei, the chief operating officer of digital asset exchange BTSE. At that time, he shared with CoinDesk that a Democratic congressional takeover could potentially hasten the conclusion of the Iran hostilities, thereby driving down oil prices and inflation while boosting equities and digital assets.
Among leading digital assets, Ether spearheaded the gains by moving up 4 percent to surpass $2,400. SOL advanced nearly 4 percent to reach about $97, whereas XRP and ZEC both posted 3 percent increases. BNB moved up 2 percent to reclaim the $700 level, while TRX dropped 1 percent, remaining the sole major token in negative territory based on figures from CoinDesk.
Capital also returned to exchange-traded funds. Data from SoSoValue indicates that U.S. spot bitcoin ETFs attracted roughly $75 million on Wednesday, while ether ETFs brought in $53 million.
With Democrats assuming control of both legislative branches in January, Mei noted on Monday that the party opposes the CLARITY Act, which is the proposed legislation designed to establish regulatory frameworks for American cryptocurrency markets.
Originally published at https://www.coindesk.com/business/2026/11/05/live-updates-bitcoin-steady-around-usd80-000-as-markets-rally-after-democratic-sweep.
