Bitcoin traded near $80,290 on Thursday, 5 November, back above $80,000 a day after an overnight fall toward $75,700. Yahoo Finance showed the coin up about 2.6% on the session by mid-morning UTC, after Wednesday's close near $80,405. CoinDesk said the bounce followed a Democratic sweep of Congress, a 3% jump in the Dow, and a nearly 9% drop in Brent crude. Wednesday's tape near $78,300 is in yesterday's rebound note.
Ether leads as the majors follow stocks higher
CoinDesk put ether up about 4% to just above $2,400. Solana gained nearly 4% to about $97. XRP and ZEC each rose about 3%. BNB climbed 2% back above $700. TRX was the only major in the red, down about 1%. FXStreet later had bitcoin consolidating around $80,600, still short of $81,000, with XRP holding above $1.32 for a third straight gain.
Jeff Mei, chief operating officer at BTSE, had told CoinDesk a Democratic majority could pull oil and inflation lower and lift stocks and crypto. James Butterfill of CoinShares said bitcoin had already priced much of a Democratic sweep, so Thursday's move looked more like a relief rally than a new political trade. CK Zheng of ZX Squared Capital pointed to liquidity, ETF flows, and risk appetite as the nearer drivers.
ETF money returned, with one large exception
US spot bitcoin ETFs took in about $75 million on Wednesday and ether funds about $53 million, covered in today's flow note. FXStreet said traders still priced about a 79% chance of a 25 basis point Federal Reserve hike in December. Friday's jobs report is the next test, in the economy briefing. Gold above $4,120 and Brent near $94 are in the commodities update. Follow the session on the markets desk.