Home » Bitcoin (BTC) » Bitcoin Reclaims $80K as Democrats’ Victory Lifts Markets. Could This Be a Bull Trap?  Bitcoin rallied as Democrats took Congress, yet traders worry the move might be a temporary pump. The Bitcoin price jumped 3.7% to $80,570 after Democrats won control of both chambers of Congress in the November 4 US midterm elections. Optimism returned to financial markets as investors priced in lower political uncertainty, while falling oil and a weaker dollar boosted risk appetite across both stock and crypto markets.