🍾 The midterm dump is gone.
BTC bounced off the 50-week MA and ran to around $80K. ETH is knocking on $2,400. Reported short liquidations are in the hundreds of millions. That part came from aggregators, so treat the exact number loosely.
The real headline isn't the candle. Decrypt reports the Dems are already talking compromise on the Clarity Act. A market structure bill that looked dead now has a pulse. That's the kind of thing that moves money for years, not hours.
My read: part of this move was shorts getting squeezed, not fresh buyers. US spot demand was soft all October. I want to see it come back before I call this anything more than relief.
What I'm watching:
- $80K holding as support, not just a wick
- $77.6K (365-day MA) and $74K (avg trader cost basis) as the floors if it fails
- Actual Clarity Act text or a committee date, not just talk
Cigar's lit. I'll tell you when the bill moves.
NFA. DYOR.
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1November 5, 2026 4
