---
title: "Bitcoin Surges Above $80,000 After Midterm Elections, Shorts Liquidated for $269 Million in One Hour"
url: https://thecoingazette.com/bitcoin-surges-above-80000-after-midterm-elections-shorts-liquidated-for-269-million-in-one-hour/
date: 2026-11-04
modified: 2026-11-04
lang: en
author: "Coin Gazette Editorial"
description: "According to Binance market data, Bitcoin is currently trading at approximately $80,510, up 4.2% ove..."
categories:
  - "Crypto News"
tags:
  - "crypto"
  - "cryptocurrencies"
  - "Defi"
  - "Market Trends"
  - "News"
word_count: 84
---

# Bitcoin Surges Above $80,000 After Midterm Elections, Shorts Liquidated for $269 Million in One Hour

According to Binance market data, Bitcoin is currently trading at approximately $80,510, up 4.2% over the past 24 hours. CoinGlass data shows that $363.67 million in positions were liquidated across the market in the past hour, of which shorts accounted for $268.96 million. BTC liquidations reached $192.26 million (shorts accounted for 96.4%), while ETH liquidations totaled $124.05 million. Over the past 24 hours, total liquidations reached $933.18 million, affecting 120,141 traders. Bitcoin initiated a short squeeze rally after the midterm election results were released.