November 05, 2026 – Bitcoin jumped 4% on 4 November and Ether rose nearly 7% as risk assets rallied after Democrats won control of Congress.
In Summary
Bitcoin closed at $80,440.80 on 4 November, up 4.02%, after trading as low as $75,625.
The rebound followed a clear US midterm result that gave Democrats control of Congress.
Ether rose 6.68% to its highest close since 21 October; Solana and XRP also gained.
The Crypto Fear & Greed Index climbed to 50 on 5 November, from 26 two days earlier.
Bitcoin remains about 8.1% lower for 2026 and 17% below its January closing high.
The bitcoin price climbed back above $80,000 on Wednesday as markets cheered a clear midterm result. Bitcoin closed the UTC day at $80,440.80 on Kraken, up 4.02%. During the day, it traded between $75,625 and $81,179.60. Early on Thursday, the bitcoin price held near $80,350 on the same venue.
What drove the bitcoin price rebound
The rally tracked Wall Street. Democrats won control of both chambers of Congress. Kalshi’s Senate control market settled in their favor early on 4 November. Stocks then posted strong gains, with the Dow up 3.03%. Crypto followed that risk-on mood. A quick, clear result removed one major source of uncertainty for traders.
The rebound also ends a rough stretch. Bitcoin closed at $76,675.80 on 2 November, its lowest close since 17 September. That slide came after the $6.34 billion theft at Binance on 29 October. Now bitcoin sits only about 1% below its 28 October close of $81,287.10, the last day before the theft.
October itself was harsh. Bitcoin fell 7.3% during the month, from $83,564.70 on 30 September to $77,437 on 31 October. In other words, Wednesday’s gain of about $3,100 recovered roughly half of October’s dollar decline.
Ether leads the altcoin bounce
Ether outperformed the market leader by a wide margin on the day. It rose 6.68% to $2,423.16, its highest close since 21 October. Meanwhile, Solana gained 3.04% to $95.53, and XRP added 2.28% to $1.3041. As a result, the ETH/BTC ratio rose to about 0.0301 from 0.0294 a day earlier.
The altcoins still trail badly for the year, however. Ether is down 18.3% in 2026, Solana 23.2% and XRP 29.1%, based on Kraken closes. Bitcoin, down about 8%, has held up far better.
Crypto stocks joined in. Strategy shares rose 5.09% to $142.54, and Coinbase gained 4.16% to $151.50, Nasdaq data shows. Both stocks tend to amplify moves in bitcoin, and Wednesday was no exception.
Strategy’s position looks healthier too. Its 2 November SEC filing showed 849,327 BTC bought at an average of $75,451. At Wednesday’s close, that stack was worth about $68.3 billion, roughly 6.6% above cost.
Sentiment improves, but caution remains
Mood indicators shifted fast. The Crypto Fear & Greed Index rose to 50, or “Neutral,” on 5 November. Two days earlier, it read 26, deep in fear territory. Notably, the gauge had not touched neutral since 29 October, when it read 51. The next day, after the Binance theft, it fell to 30.
Market value grew as well. Total crypto market capitalization reached about $2.71 trillion, according to CoinGecko. Bitcoin’s dominance stood near 59.5%, while Ether held about 10.9%. The total rose about 2% over 24 hours, a sign that buying spread across the market.
Still, the bitcoin price has ground to recover. It remains about 8.1% lower for 2026, from $87,500.10 at the end of last year. Moreover, it trades about 17% below its 2026 closing high of $96,933.30, set on 14 January.
Market value grew as well. Total crypto market capitalization reached about $2.71 trillion, according to CoinGecko. Bitcoin’s dominance stood near 59.5%, while Ether held about 10.9%. The total rose about 2% over 24 hours, a sign that buying spread across the market.
Still, the bitcoin price has ground to recover. It remains about 8.1% lower for 2026, from $87,500.10 at the end of last year. Moreover, it trades about 17% below its 2026 closing high of $96,933.30, set on 14 January.
Policy now matters more for crypto, and for the bitcoin price in particular. A Democratic-led Congress takes office in January, and US market structure rules remain unfinished. In the near term, traders will watch Friday’s October jobs report. A steady reading could help bitcoin hold the $80,000 line. By contrast, a weak one could revive the fear that dominated late October.
