Bitcoin Surges Past $80,000 as Post-Election Recovery Accelerates
Bitcoin climbed above $80,000 on Coinbase, extending its rebound from an overnight low near $75,600 after the US midterm elections.
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Cash App and Square lifted Block’s quarterly gross profit to $3.24 billion. Its Bitcoin business earned $52 million in gross profit after fee cuts.
Bitcoin reached 78,063 USDT on Binance on November 3 before slipping back. Coinbase’s BTC/USD quote was about $77,816 at 21:58 UTC.
In a CoinDesk interview, CZ says he expected far larger withdrawals, credits help with asset freezes and calls for AI defenses across crypto and banking.
Bitcoin slipped below $77,000 as ETH, XRP and SOL weakened, while CoinGlass tracked about $163 million in long liquidations over four hours.
Strategy disclosed an 811-BTC purchase for $65.5 million, while Strive added 124 BTC for about $10 million in separate weekly treasury updates.
BTCPay Server’s shutdown warning is followed by an alert targeting version 2.4.1 and earlier, with no credible drain reports on the latest 2.4.7 release.
Dragonfly’s Haseeb Qureshi, Anthony Pompliano and CZ point to a calmer response than FTX, even as Bitcoin remains under pressure after the Binance hack.
Richard Teng targets a withdrawal restart within 40 hours of his address and a full reserve report by Monday as Binance rebuilds its infrastructure.
Binance says $5 billion is already held in the affected tokens as it buys remaining assets. The allocation excludes roughly $3 billion frozen.
Inside Binance’s $6.3 billion hack: the wallet-signing attack, frozen assets, withdrawal restart target and questions the final investigation must answer.
CoinDesk traced roughly 18,270 stolen BTC into 19 addresses, highlighting why Bitcoin recovery differs from issuer freezes of stolen stablecoins.
Binance estimates $6.3 billion in hack losses and $3 billion frozen, pledging full coverage as deposits operate normally and withdrawals remain paused.