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Bitcoin jumps above $80,000 after US midterms as oil prices fall and stocks rally

Market News
04 Nov 2026, 22:36 WIB
CryptoTicker
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Bullish
Bitcoin jumps above $80,000 after US midterms as oil prices fall and stocks rally

Bitcoin surged past $80,000 on November 4, 2026, following the US midterm elections where Democrats won both chambers, ending uncertainty. The rise was driven mainly by a sharp drop in oil prices on hopes of an end to the Iran war, a strong rally in US stocks, and $378 million in short positions liquidated within one hour. Despite the election result being largely priced in, the market reacted positively to easing inflation pressure and lower rate hike expectations linked to cheaper oil. However, risks remain from potential Iran conflict escalation and continued outflows from Bitcoin ETFs, which could limit further gains.

Bitcoin price movements are the subject, with Pluang market data as context for readers. As of Nov 05, 2026 03:51 WIB, out of 50 major cryptocurrencies tradable on Pluang, 42 rose and 7 fell. Notable performers include XNO (Nano) at Rp5.991 with a 3.79% gain and 100% buy order activity, AXS (Axie Infinity) at Rp15.895 with a 3.77% gain and full buy activity, and COTI at Rp184 with a 3.46% gain but predominantly sell orders. The most notable figure is XNO's 3.79% increase.

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