Bitcoin Holds Above $80,000 as Zcash Surges Nearly 12% in a Single Day
nashnova research
After Democrats swept both chambers in the U.S. midterms, crypto rallied with equities — Bitcoin rose 5.7% to $80,484, holding the $80k level, while privacy coin Zcash jumped 11.7% to lead the board.
What happened in crypto after the election result?
Democrats won both houses of Congress; crypto rebounded alongside U.S. equities.
Bitcoin traded at $80,484 in the Asian morning session, up 5.7% in 24 hours, reclaiming the $80,000 mark.
This means → the panic sell-off in the election's early hours — which briefly pushed Bitcoin to around $75,700 — has been absorbed, and capital is flowing back in.
How did the major tokens perform?
Ethereum gained 8% to roughly $2,425, the largest move among majors.
Solana climbed 5.9% to $96; BNB added 4.2% to about $715.
XRP rose 4.7% to $1.31 — every major token finished in the green.
Why did Zcash rally the hardest?
Zcash surged 11.7% to about $1,318, with $1.2 billion in daily volume — far above its normal range.
Zcash runs a privacy-focused blockchain — a network that can hide the sender, receiver, and amount of every transaction — and supports encrypted payments.
In plain terms = when the whole market is rising, extra capital pouring into a privacy coin signals that a segment of buyers specifically values untraceable transactions.
Why did the market flip from panic to rally?
In the first hours after the election result, Bitcoin dropped to around $75,700 before reversing course.
Jeff Mei, COO of crypto exchange BTSE, told CoinDesk: "Bitcoin rebounded with equities as markets priced in a higher probability that the Iran conflict and high oil prices are heading toward resolution."
This means → the rally's core driver is not crypto-specific good news but a broader shift in risk appetite — expectations of easing geopolitical tension lifted equities and crypto in tandem.
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