Bitcoin surged above $80,000 on November 4, with crypto derivatives liquidations reaching $963.14 million within 24 hours following the US midterm elections. The liquidations included $562.5 million in short positions and $400.64 million in long positions, indicating significant market volatility. Bitcoin's market cap stood at about $1.58 trillion during this period. While the timing coincides with the election results, there is no direct evidence that the election outcome caused the price surge or liquidations.
Bitcoin's market cap was about $1.58 trillion during the recent surge above $80,000. For readers following major cryptocurrencies, here is Pluang's market snapshot as of Nov 05, 2026 07:11 WIB: out of 50 priced major cryptocurrencies, 43 rose and 6 fell. Notable movers include Ethereum (ETH) up 6.65% to Rp44,055,136 with 69% sell order activity, Algorand (ALGO) up 6.46% to Rp1,814 with 94% buy order activity, and PancakeSwap (CAKE) up 6.22% to Rp36,571 with 65% sell order activity.
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