$1.9B buy volume floods Binance derivatives in an hour Post-Midterms, BTC Back above $80k

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Last night, Trump and the Republicans suffered a real rout in the midterms.

Democrats have largely taken back both the House and the Senate. They are estimated to control between 251 and 268 seats in the House (CBS estimate). Republican strongholds like Texas and Kansas even flipped in the Senate, with Kansas not having elected a Democratic senator since decades.

Following this result, the US market open was quite positive, with Bitcoin up 3.8% intraday, 1.6% for the S&P 500 and the Nasdaq, and 2.8% for gold.

In the first hour of the US market open, more than $1.9B of buy volume rushed into derivatives on Binance. That figure even rose to $3B over 2 hours, showing just how strong the optimism was.

This surge of buying pressure was also fueled by more than $375M of short liquidations during the same hour.

The sudden push allowed BTC to reclaim the $80,000 level. Holding it today and over the next several days would be a very positive outcome for what comes next.