Bitcoin Rides the Midterm Wave to $80K Territory, With Arthur Hayes Keeping an Umbrella Handy
Bitcoin ($BTC) rose 2% on November 5 to reach $79,676 at the time of writing, pushing the asset back toward the $80K threshold following renewed appetite for risk assets after the Democratic Party’s win in the midterm elections.
The gain extended Bitcoin’s post-election rally as traders responded to the political result, which preceded by the asset’s move above $79,000. Bitcoin traded 2% higher during the session.
Arthur Hayes flagged major downside risk amid the rally, adding a note of caution to Bitcoin’s renewed push toward $80K. The cryptocurrency was last priced at $79,676.
Mentioned Coins
Share Article
Quick Info
Disclaimer: This content is for information and entertainment purposes only. It does not constitute financial, investment, legal, or tax advice. Always do your own research and consult with qualified professionals before making any financial decisions.
See our Terms of Service, Privacy Policy, and Editorial Policy.