Bitcoin Holds Above US$80,000 After Democrats Win Congress, Zcash Jumps 12%
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- Harga Bitcoin bertahan di atas level US$80.000 pada Kamis, sehari setelah Partai Demokrat memenangkan kedua kamar Kongres AS.
- Zcash memimpin penguatan dengan kenaikan 11,7% ke sekitar US$1.318, didorong ekspektasi peningkatan jaringan NU7 dan volume perdagangan US$1,2 miliar.
- Meski pasar kripto rebound, pelaku industri mewaspadai masa depan RUU CLARITY dan potensi pengawasan lebih ketat terhadap privasi finansial.
Bitcoin (BTC) held above US$80,000 on Thursday (5/11/2026) after the Democratic Party won both chambers of the United States Congress. The victory triggered a rally in crypto and global equity markets, with Zcash (ZEC) posting the largest gain among major tokens.
According to CoinGecko data, BTC traded around US$80,484 in the Asian morning session, up 5.7% in 24 hours. Ether (ETH) jumped 8% to around US$2,425, XRP rose 4.7% to US$1.31, and Solana (SOL) climbed 5.9% to US$96. BNB also added 4.2% to around US$715.
Zcash led with an 11.7% gain to around US$1,318, with trading volume reaching US$1.2 billion in the past day. The network allows users to make encrypted payments that hide the identity of the sender, recipient, and transaction amount.
The rally followed an initial sell-off as election results began coming in. Bitcoin briefly fell to US$75,700 on Wednesday morning before buyers returned. According to Jeff Mei, Chief Operating Officer of crypto exchange BTSE, Bitcoin's rebound tracked equities as the market believes the Iran conflict and high oil prices will soon end.
"Bitcoin has rebounded in line with stocks because the market believes the Iran conflict and high oil prices are more likely to end," Mei told CoinDesk.
Brent oil prices fell more than 8% on Wednesday after investors bet that Democratic control of Congress would increase pressure to end the conflict in the Middle East. Lower energy prices could ease inflation and reduce business costs. The S&P 500 index rose 1.6%, while the dollar weakened.
Asian market responses were mixed. Shares of Samsung Electronics and SK Hynix fell more than 6% in Thursday trading as investors weighed tighter scrutiny of data centers. By contrast, Chinese internet stocks strengthened, with Tencent and Alibaba each up more than 5%.
Mei warned that the election outcome could complicate crypto legislative ambitions. "The CLARITY Act in its current form likely will not pass, and an interest rate cut is also still unlikely," he said. The bill aims to set regulatory rules for the US crypto market.
The Zcash rally also occurred amid cautious assessment from its own community. A policy memo posted on the Zcash forum on Wednesday warned that financial privacy and illegal finance may face greater scrutiny under the new Congress. The memo advocated private payments on grounds of consumer security, business confidentiality, and civil liberties.
In addition, the Zcash rally comes ahead of the NU7 network upgrade expected around Friday. The upgrade will cut the target block time from 75 seconds to 25 seconds. This could speed up deposit credits; exchanges that wait for three confirmations would see wait times drop from nearly four minutes to about 75 seconds, assuming requirements do not change.
Mei advised traders to watch amendments to the CLARITY Act and whether Congress will conduct crypto-related investigations. The new Democratic majority will take office on January 3.
With the political landscape shifting, crypto market participants need to watch whether optimism over easing global tensions will hold, or fade as US domestic regulation tightens. The big question: will this rally mark the start of a sustained bullish trend, or just a temporary bounce before a legislative storm hits?
