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Bitcoin rebounds above $80,000 after U.S. midterms, fueled by ETF inflows and short squeeze.

05 Nov 2026, 12:19 WIB
Blockonomi
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Bullish
Bitcoin rebounds above $80,000 after U.S. midterms, fueled by ETF inflows and short squeeze.

Bitcoin rose over 3% to trade near $80,320 on November 5, recovering from a dip to $75,600 during the U.S. midterm elections. The rebound was driven by fresh inflows into spot Bitcoin ETFs, notably Fidelity's FBTC, and a significant short squeeze that liquidated $378 million in short positions within an hour. The broader market also improved with rising U.S. stocks and a weaker dollar, supporting risk assets. Despite the gains, Bitcoin faces resistance near $82,000, and analysts suggest the market has not yet confirmed a strong bottom, indicating cautious optimism moving forward.

Bitcoin price action is the subject, with Pluang data providing market context as of Nov 05, 2026 17:21 WIB: Among 50 major cryptocurrencies, 40 rose and 9 fell today. Bitcoin Cash (BCH) led gains with a 5.08% increase to Rp5.237.738, contrasting with its strong 96% sell order activity on Pluang, while Ethereum Classic (ETC) and Chainlink (LINK) also rose by 4.43% and 4.30% respectively, both showing predominantly buy order activity at 91% and 74%.

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