China Bitcoin ETF (03042) Jumps Over 3% Intraday as Risk Appetite Recovers, Bitcoin Reclaims $80,000

Stock News14:07

According to an app report, China Bitcoin (03042) rose more than 3% during intraday trading. As of press time, it was up 2.79% at HK$9.78, with a turnover of HK$7.9985 million.

On the news front, with the U.S. midterm elections concluded, a Democratic sweep of both chambers drove the fading of policy uncertainty risk, and Bitcoin once again held firmly above the $80,000 mark. At the same time, both Senate and House Democratic leaders stated they would push to end the Iran war, and crude oil prices have fallen sharply for consecutive sessions.

CoinGlass data shows that about 100,000 people were liquidated in the past 24 hours, with total liquidation amounts reaching $752 million. James Butterfill, head of research at CoinShares, said that in the short term, Bitcoin's performance is still mainly driven by macro factors — including real yields, dollar liquidity, and exchange-traded product (ETP) fund flows — rather than purely by political factors.

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