ZEC Explodes by 13% Daily as BTC Price Reclaims $78K After Midterm Elections: Market Watch

VVV, PUMP, and INJ are among the other major gainers today. The US midterm elections expectedly brought a new wave of fluctuations for bitcoin, whose price dumped to a new seven-week low before it rebounded by almost $3,000. With the political uncertainty now out of the way, most altcoins have turned green, led by ZEC’s major breakout above $1,300. XRP, ETH, and HYPE are also in the green, and so is NEAR. BTC Reclaims $78K The previous business week also ended with a massively volatile trading session prompted by the largest hack in terms of USD value in crypto history against Binance. As reports started to emerge on Friday morning that the leading exchange was compromised for an unprecedented $6.3 billion, BTC’s price dived from $81,000 to a multi-week low of $76,400. Its initial bounce failed, and the asset quickly dipped to $76,100. It finally rebounded slightly over the weekend, and even neared $79,000 on Monday morning. However, the predominantly bearish market sentiment returned, and BTC slipped to $76,500 on Tuesday morning. More volatility ensued after the US midterm elections, in which the Democrats won convincingly. Bitcoin’s initial reaction was a nosedive to a seven-wee...