Bitcoin Rebounds to $78.5K as ZEC Blasts Past $1,300 After Midterms

Bitcoin took a punch, then threw one back. After the US midterm elections delivered a convincing Democratic win, BTC nosedived to a seven-week low of $75,600 — then rallied roughly $3,000 to sit near $78,500. Its market cap has climbed back to $1.570 trillion on CMC, with dominance still flirting with 60%.

The week had already been brutal. Friday brought reports that Binance had been compromised for an unprecedented $6.3 billion — the largest hack by USD value in crypto history, according to CryptoPotato. Bitcoin dove from $81,000 to $76,400, a bounce fizzled, and it slid again to $76,100. A weekend recovery pushed it near $79,000 on Monday morning before bearish sentiment dragged it back to $76,500 by Tuesday.

Then the elections hit and volatility did what volatility does. The political uncertainty is now cleared, and most altcoins have flipped green. Ethereum jumped past $2,300 on a 2.6% daily gain, XRP pushed at the $1.30 resistance after rising 3%, and HYPE climbed to almost $87. BNB, SOL, XMR, DOGE and ADA are all modestly higher too.

But ZEC owned the tape. The privacy coin exploded by roughly 14% daily, breaking well above $1,300 and leaving the rest of the majors in its dust. NEAR reclaimed $4.00 after a 7% rise, while ENA, PUMP, ONDO, MORPHO and PEPE each popped by as much as 8%. BTW went full rocket mode with a 24% daily surge.

The broader market is breathing again. The cumulative market cap of all crypto assets rose 2% in a day to $2.630 trillion. With the midterms in the rearview, traders are watching whether bitcoin can hold its reclaimed ground — or whether the Binance hack fallout has more surprises left.