Ethereum (ETH) Price Jumps 5% as Bitcoin Reclaims $80,000

By Nodora News · 5 November 2026

Ethereum (ETH) rose about 5.6% in 24 hours to near $2,430 as Bitcoin climbed back above $80,000, recovering from a dip after the US midterm results.

Ethereum (ETH) climbed about 5.6% over the past 24 hours to trade near $2,428 on Wednesday, November 4, 2026, as Bitcoin (BTC) pushed back above $80,000. The rebound came less than a day after both coins slid on news that Democrats had won control of both houses of the US Congress in the midterm elections, briefly sending Bitcoin to a six-week low near $75,600.

Key takeaways

• Ether rose roughly 5.6% in 24 hours on OKX, from about $2,300 to around $2,428, after touching a low near $2,227.
• Bitcoin gained about 3.7% to roughly $80,580, after dipping to around $75,700 overnight.
• The bounce followed a reversal in US stock futures and a weaker US dollar, which slipped to a five-week low.
• Ether outperformed Bitcoin, with the ETH/BTC ratio rising from about 0.0296 to 0.0301.
• Sentiment is still cautious: CoinMarketCap's fear and greed index read 37, in "fear" territory.

What happened to the Ethereum price after the midterms?

The week started badly for crypto. As US midterm results came in late on Tuesday, US time, it became clear that Democrats would take control of both the House and the Senate. Many traders read that as a setback for the industry's push for faster, lighter regulation, including the stalled market structure bill known as the CLARITY Act. We covered that angle in detail in Crypto CLARITY Act in doubt as Democrats win US Congress.

Prices reacted fast. According to CoinDesk, Bitcoin dropped to around $75,600 near 03:00 UTC on Wednesday, and Reuters reported that it briefly hit a six-week low. US stock index futures fell as much as 2% overnight at the same time.

Then the mood turned. Stock futures reversed and moved into positive territory, the US dollar weakened, and crypto followed. By Wednesday afternoon in Europe, Bitcoin had climbed back above $78,000, and through the US session it pushed past $80,000. Ether moved even harder, rising from a 24-hour low of about $2,227 to more than $2,440.

Ethereum and Bitcoin by the numbers

Prices from the OKX public market data at around 15:50 UTC on November 4:

• Ethereum (ETH): about $2,428, up roughly 5.6% in 24 hours. 24-hour range: $2,227 to $2,451.
• Bitcoin (BTC): about $80,580, up roughly 3.7%. 24-hour range: $75,735 to $81,200.
• ETH/BTC: about 0.0301, up from 0.0296 a day earlier, meaning ether gained ground against Bitcoin.

Other large coins rose too, though mostly by less. Solana (SOL), XRP and Dogecoin (DOGE) were each up around 3% to 3.5% on OKX, while NEAR led the majors with a gain of about 8%. Tron (TRX) was one of the few to slip, down under 1%.

Across the whole market, TokenPost data showed total crypto market value at about $2.66 trillion, with ether's share of the market (its "dominance") edging up to about 11%. Derivatives volume rose about 16% to roughly $923 billion in a day, a sign that traders were actively repositioning.

Why crypto bounced back

There was no single crypto-specific trigger. The rebound looks mostly like a broad risk-on move:

• Stocks recovered. Reuters said crypto "tracked stocks higher" after US futures reversed their overnight losses.
• The dollar slipped. FXStreet reported the US dollar fell to a five-week low on the Democratic gains. A weaker dollar usually helps assets priced in dollars, including Bitcoin and ether.
• Fresh money in ether futures. CoinDesk noted earlier in the day that ether open interest (the total value of open futures positions) rose faster than its price, up 4.2% against a 2.7% price gain, which suggests new positions were being opened rather than old shorts simply closing.
• DeFi strength. CoinDesk's DeFi Select Index was the best-performing sector earlier on Wednesday, up around 5%. Many DeFi tokens live on Ethereum, so strength there tends to support ETH.

It is also worth noting what fell. Trump-linked tokens lagged, with the official TRUMP memecoin down about 7% and World Liberty Financial's WLFI down about 5%, according to CoinDesk. That fits the view that the market is pricing in a slower path for pro-crypto policy rather than an outright reversal.

Market reaction and the bigger picture

The bounce is welcome for holders, but it comes after a rough stretch. Reuters pointed out that Bitcoin is still about 41% below its record above $122,000 set in October 2025. Institutional demand has also been weak: US spot Bitcoin ETFs saw about $643 million of outflows last Friday and roughly $399 million on Monday, according to figures cited by The Economic Times. For background, see Bitcoin (BTC) ETFs lose $643M in a day after Binance hack.

Technically, ether has now pushed above several moving averages that FXStreet flagged as resistance earlier in the day, including the 100-day exponential moving average near $2,350 and the 50-day near $2,407. A moving average is simply the average price over a set period, and traders often treat these lines as levels where buying or selling picks up.

Here is the live Ethereum chart:

You can follow more coins on the Nodora charts page.

What to watch next for Ethereum

• Can ETH hold above $2,400? FXStreet identified a heavier resistance zone near $2,490. A clean move through it would extend the recovery; a slip back below roughly $2,313 (the 200-day average) would undo much of it.
• Bitcoin at $80,000. Bitcoin's 50-day average sits close to $80,000, so holding this round number matters for the wider market.
• US jobs report on Friday. CoinDesk said traders are now focused on Friday's US employment data, which could shift expectations for interest rates.
• ETF flows. A return to steady inflows into spot Bitcoin and ether ETFs would signal that larger investors are coming back.
• Washington. With Congress changing hands, any comment on the timing of crypto market structure legislation could move prices again.

Sentiment readings remain cautious, and options traders were still paying up for protection on ether earlier in the day, with puts making up four of its six most active contracts on CoinDesk's data. In short, the market has bounced, but it has not yet shown that the rebound will stick.

This article is for information only and is not financial advice.

#Ethereum #Bitcoin #Markets #Midterms #Crypto Prices

This article is general information, not financial advice.