CNA · 2026-11-04 09:37 UTC

Crypto tracks stocks higher after Democrat midterm wins

Cryptocurrencies recovered Wednesday after initial losses following Democrats winning control of both US Congressional houses, with Bitcoin up 0.7% to $78,354 and Ether up 1.4% to $2,323. The crypto market has lost $300 billion in value over the past month due to concerns about AI returns, rising borrowing costs, and a $6 billion Binance hack that triggered $884 million in Bitcoin ETF outflows. Despite some Democrats supporting lighter regulation, analysts warn the political shift could stall crypto legislation progress, while security incidents are forcing investors to reassess risk-reward…

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