Bitcoin Erases Overnight Crash as $420 Million Bets Fuel Bullish Hopes

Bitcoin has staged a remarkable V-shaped recovery, climbing from $75,700 to over $78,300 within hours as traders placed hundreds of millions of dollars in bullish bets. Can Bitcoin price reclaim $80,000, or is this another temporary rally? Why Did Bitcoin Crash and Recover So Quickly? Bitcoin plunged early Wednesday as Democrats won control of both chambers of Congress in the US midterm elections . Investors feared the results could delay Trump’s crypto-friendly legislation. Nasdaq futures also dropped sharply before recovering. As political uncertainty faded, institutional traders began positioning for a Bitcoin rebound. Election-day Bitcoin options block trading reached $660 million, more than double the previous day. Traders bought roughly $420 million in call options against $105 million sold. These contracts provide exposure to rising Bitcoin prices.

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