Bitcoin Reverses Higher Above $79,000 Despite Fears of a Democratic Crackdown on AI and Big Tech

Crypto markets turned sharply higher after the US midterms. Democrats are projected to win the House, and investors had feared that a Democratic win would bring tougher rules for AI companies and Big Tech. Instead of selling off, Bitcoin broke above $70,000, its highest level in November and its strongest since October 29. Blockto market data shows it near $80,537, up 4.18%.

Short Squeeze Pushes Ether and Liquidations Higher

Ether climbed to about $2,440, and the heatmap lists it at $2,431, a gain of 6.22%. Crypto liquidations reached roughly $860 million in 24 hours as traders betting on a drop were forced to close their positions.

Altcoin Prices and Daily Gains

Zcash led the major names with a 12.89% jump. Chainlink rose 4.99%, XRP added 4.57% to $1.33, and Solana gained 4.53% to about $97.5. WhiteBIT Coin advanced 4.13%, Dogecoin gained 3.69%, and Monero rose 3.47%.

BNB gained 2.69% to $717.41, and Hyperliquid’s HYPE rose 1.77%. Tron slipped 0.83%, while the tokenized real estate asset FIGR_HELOC fell 0.80%.