Crypto market rises as BTC surpasses 4.3% gains, ETH hits 6.66% gains

Huoxing Finance reports that on November 4, according to market data, as Bitcoin briefly rebounded above $81,000, the broader crypto market experienced a broad-based recovery: BTC rose over 4.3%, ETH increased 6.66%, SOL climbed more than 4%, BNB rose over 2%, XRP gained over 3.7%, and ZEC surged over 10%. The total market capitalization of all cryptocurrencies rebounded to $2.72 trillion, up 1.0% over 24 hours. The Fear & Greed Index stands at 46 (neutral). Goldman Sachs and Deutsche Bank analyze that this rally in risk assets was primarily driven by the unwinding of hedging positions accumulated ahead of the election, now that the outcome is clear, alongside reduced political uncertainty compressing market risk premiums. Goldman Sachs notes that valuations in the AI infrastructure sector had previously contracted significantly, and a near-term decline in volatility could further support equity markets. Following today’s U.S. midterm elections, the high cost of living has become the top policy priority for the Democratic Party as it prepares to take control of Congress. Hakeem Jeffries, Democratic Leader in the House of Representatives and expected to become Speaker of the House in January, stated that after assuming control of Congress, Democrats should focus on reducing the cost of living rather than seeking retribution against Trump.