Bitcoin Back Above $80,000: Squeeze, Not a Trend Change

Bitcoin climbed back above $80,000 on 4 November, a day after the US midterm result, and held it overnight. On Binance spot, BTC went from $79,347.33 at 15:00 UTC to a high of $81,196.01 in the 15:15 bar, and was at $80,649.36 at 07:00 UTC on 5 November. The 4h structure is still bearish, even after a bullish CHoCH.

What happened

CryptoTicker reported on 4 November that Bitcoin first crossed $80,000 at 15:05 UTC, 35 minutes after the Wall Street open. Stocks rose the same day: the Dow was up 2.9% and the S&P 500 up 1.8% at 20:00 UTC, with oil below $93 a barrel. The article cites CoinGlass for $378.09 million of short liquidations in one hour, 81% of $466.33 million in total forced closures. Those figures cover the whole crypto market, not only Bitcoin.

The cause is not settled. CryptoTicker's election-night report puts the low at $75,740 at 03:10 UTC, five minutes before the House was called for Democrats, per CBS and NBC projections. These are media projections, not certified results. CoinShares analyst James Butterfill argued that "real yields, dollar liquidity and ETP flows still carry more weight than the elections." We read the move as a short squeeze through a round number, not as proof the election drove it. We covered the overnight dip in yesterday's note.

What the chart did

We measure from the 15:00 UTC open, the hour in which price crossed $80,000.

Most of the move came in the first hour. Price then stayed near $80,000. The lowest print after 15:15 UTC was $79,952, in the 20:00 UTC bar, and it traded in a narrow band overnight. The 24h row stays empty until that period has elapsed.

Structure context

On the 4h chart, Bitcoin printed a bullish external CHoCH at $78,878.01 on the 12:00 UTC bar of 4 November. The engine still reads the 4h bias as bearish, in a correction context, so one CHoCH has not flipped the trend. On the 15m chart, internal CHoCH events at $80,236.20 (19:30 UTC, bearish), $80,356.01 (22:00, bullish) and $80,528.36 (04:00 on 5 November, bearish) show a range around $80,000, not a clean trend. Read how bias is assigned in the methodology.

Ethereum moved most. From the 14:00 UTC open it reached +5.64% and sits at +4.78%. Solana peaked at +5.58%, XRP at +4.62% and BNB at +3.21%. All four also read bearish on 4h. CryptoTicker puts ETH at $2,415 (+5.8% over 24 hours) at 20:26 UTC.

What to watch next

• $80,000 as support. The 4h bullish CHoCH level is $78,878.01. A close back below it would undo the structure change.
• The election-night low. CryptoTicker notes that a fall below $75,618 (Bitstamp) would erase the move.
• ETF flows. CryptoTicker reports US spot Bitcoin ETFs lost about $1.16 billion across 30 October, 2 November and 3 November. Flows for 4 November were not yet published when it wrote.
• More coverage. Follow the next market story in the news hub.

FAQ

Why did Bitcoin go above $80,000 on 4 November 2026? CryptoTicker reports it crossed $80,000 at 15:05 UTC as US stocks rallied after the midterm result, with $378 million of shorts liquidated in an hour. Analysts disagree on how much the election mattered.

Is Bitcoin's trend bullish now? Not on our 4h data. The engine printed a bullish CHoCH at $78,878.01 but still reads the 4h bias as bearish at 07:30 UTC on 5 November.

How much did Ethereum rise? ETH rose 4.78% from its 14:00 UTC open on 4 November to 07:00 UTC on 5 November, with a high of +5.64%, on Binance spot.