Bitcoin hits $80.5K as US stocks rally on midterm election results

Bitcoin climbed toward $80,500 as risk assets rallied on Democrats’ midterm election gains and oil prices fell. Bitcoin (BTC) returned to $80,000 at Wednesday’s Wall Street open as US stocks surged following a Democratic sweep in the midterm elections. Data from TradingView showed BTC/USD up by over 4%, having rebounded from its lowest levels in seven weeks . US stock futures made swift gains on Wednesday after initially dipping overnight. S&P 500 futures fell as low as 7,490 points, their lowest level since July 31, before reaching 7,690 points, approaching new month-to-date highs.