COINTELEGRAPH · 2026-11-04 07:25 UTC

Bitcoin bounces from 7-week low under $76K as Democrats sweep Congress

Bitcoin fell to $75,618 after Democrats won control of both House and Senate in midterm elections, then rebounded to $78,000. Analysts noted BTC must defend its 50-week moving average at $75,733 to avoid deeper correction, with $288 million in crypto long liquidations in 24 hours. Market strategists attributed initial losses to concerns over data-center and AI capital expenditure under Democratic governance, though election outcome was largely priced in.

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