Bitcoin rebounded toward $78,000 on November 4 after briefly falling below $76,000, reaching a seven-week low at $75,618. The outcome of the U.S. midterm elections, which gave Democrats control of Congress, initially increased uncertainty about cryptocurrency regulation. Approximately $288 million in long positions were liquidated over 24 hours before Bitcoin recovered to $78,039 within roughly three hours. Technical traders are now watching $75,700 as support and $78,000 as resistance, with consolidation above these levels potentially supporting a further advance.
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