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Bitcoin price traded near $80,000 on Wednesday afternoon, up about 3% on the day and roughly $26,000 below its price one year ago, as markets shook off election-night jitters over the Democratic sweep of Congress, according to Bitcoin Magazine Pro data.
Bitcoin changed hands at $80,099 at 3:12 p.m. ET, with a market cap of about $1.61 trillion and roughly $39.6 billion in trading volume over the past 24 hours.
The low came in the 10 p.m. ET hour on Tuesday, as results showed Democrats taking both chambers. The high came in the 10 a.m. hour on Wednesday. That is a swing of about 7.3% from bottom to top in roughly 12 hours.
The climb was a short squeeze. About $950 million in…
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