The crypto market is experiencing a broad recovery, with BTC surging over 4.3%; Goldman Sachs attributes the market rebound to the unwinding of hedge positions.

BlockBeats news, November 4th, according to HTX market data, as Bitcoin briefly rebounded above $81,000, the crypto market recovered across the board:

BTC rose over 4.3% in 24 hours, ETH rose 6.66% in 24 hours, SOL rose over 4% in 24 hours, BNB rose over 2% in 24 hours, XRP rose over 3.7% in 24 hours, and ZEC rose over 10% in 24 hours.

The total market capitalization of cryptocurrencies across the network recovered to $2.72 trillion, with a 24-hour increase of 1.0%. The Fear and Greed Index is temporarily at 46 (Neutral).

Analysts at Goldman Sachs and Deutsche Bank believe that this round of risk market rebound was mainly driven by the unwinding of concentrated pre-election hedging positions after the election results became clear, while the decline in political uncertainty also compressed market risk premiums. Goldman Sachs believes that valuations in the AI infrastructure sector had already contracted significantly, and the recent decline in short-term volatility may further support the stock market.

After today's U.S. midterm elections conclude, the high cost of living is set to become the top policy issue for Democrats as they are about to take control of Congress. House Democratic Leader Hakeem Jeffries, who is expected to become Speaker of the House in January next year, said, after Democrats take control of Congress, the focus should be on lowering the cost of living rather than seeking revenge against Trump.