Veytics Intelligence
2026-11-08 · Tradingkey

BTC Reclaims $80,000 Level as US Midterm Uncertainty Clears, Bulls Still See 8% Upside - TradingKey

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Following the clearance of U.S. midterm election uncertainties, Bitcoin executed a strong V-shaped recovery, reclaiming the $80,000 mark driven by massive short-covering and $975 million in network liquidations. While Democratic control raised initial regulatory concerns, robust local-level support and state-level strategic reserve proposals alleviated extreme panic. Technically, Bitcoin faces immediate resistance at $81,000. Sustained momentum depends on holding current levels, spot ETF inflows, and a favorable Federal Reserve interest rate decision, with potential upside targeting prior highs near $87,000 and the broader $90,000 threshold by the end of 2026.

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