Bitget UEX Daily Report | Bitcoin returns to $80,000; Dow surges 3%; oil plunge reshapes inflation expectations

Bitcoin climbed back above $80,000, trading at $80,465.19 (up 4.26% in 24 hours), while ETH rose 6.38% to $2,415.76 and total crypto market capitalization gained 1.13% to about $2.71 trillion, as Democrats won both chambers of Congress and markets repriced fiscal, energy and AI-regulation paths. The rally leaves BTC about 6.58% above Strategy's disclosed average cost of $75,451 across 849,327 BTC, but still roughly 1.33% below Glassnode's estimated $81,500 aggregate cost basis for U.S. spot BTC ETFs. Equities diverged: the Dow jumped 3%, yet AI-infrastructure names sold off (Vertiv -12.89%, GE Vernova -9.30%, Micron -7.00%), while crypto-linked stocks rebounded (Strategy +5.09%, Coinbase +4.16%, Robinhood +2.02%). Oil fell sharply, with WTI December at $87.79/bbl and Brent January 2027 at $94.56/bbl, easing cost and inflation pressure but weighing on energy producers' earnings outlook. Glassnode's November 4 weekly report, covering data through November 2, showed nearly $1 billion in net outflows from U.S. spot BTC ETFs over the prior two weeks, suggesting the rebound is driven more by internal crypto flows than new traditional-investor demand. Watch whether BTC holds the $80,000 level and approaches the $81,500 ETF cost reference, and whether ETF and spot volumes confirm sustained demand; upcoming U.S. jobs and productivity data, plus the Bank of England decision, will test the inflation-relief narrative.