Photo: Satheesh Sankaran / CC BY 2.0
Bitcoin climbed back above $80,000 Wednesday afternoon, trading at $80,055, up 2.9% on the day as of 3:16 p.m. Eastern, according to CNBC market data, as the post-election rally spread across risk assets.
The move extends a V-shaped comeback that began overnight as midterm election uncertainty faded, CoinDesk reported, with crypto prices reversing losses following the Democratic landslide.
The rebound tracks a broader risk-on session: U.S. stocks surged more than 1.7% while the dollar slipped, conditions that have historically favored the largest cryptocurrency.
For holders, $80,000 is a closely watched level that bitcoin had ceded during the autumn selloff; regaining it puts October’s highs back in view.
JBizNews Desk | New York
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