Bitcoin Tops $81,000 After Midterm Dip, Squeezing Short Sellers

Bitcoin was back above $80,000 by Wednesday morning, more than making up an election-night slide after Democrats flipped both chambers of Congress in Tuesday’s vote. Bitcoin changed hands at about $80,500 at 11:10 a.m. ET, up 3.8% over 24 hours, according to CoinGecko . Ether rose 6.3% to about $2,437. On Coinbase, bitcoin had fallen as low as $75,600 in the 10 p.m. ET hour on Tuesday, roughly 2.8% below where it stood at 6 p.m., before reaching $81,130 in the 10 a.m. ET hour on Wednesday. That is a 7.3% climb from low to high, by Unchained’s count of Coinbase’s hourly data. Get Unchained’s crypto news in your inbox with the free Unchained Daily newsletter .

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