Bitcoin Price Defends Key Level as Crypto Rides Out Midterms

Bitcoin rebounded from an intraday low of $75,736 to $77,988 at 07:03 UTC on Nov. 4, up 0.69% for the session and back above its 100-day moving average after the U.S. midterm elections. The Associated Press called the Senate for Democrats late on Nov. 3; the House had not been called, and results remained unofficial until state counts and certification. Crypto traders had widely anticipated a Democratic Senate win, and the industry feared that outcome would hinder pro-crypto legislation, with the CLARITY Act's path to 60 Senate votes narrowing. Major altcoins also gained over the prior 24 hours.