Bitcoin traded near $77,500 on Tuesday morning, down about 0.6% on the day and roughly $30,000 from a year earlier, as voting began in the U.S. midterm elections. The elections determine control of Congress and the fate of the CLARITY Act, which passed the House 294-134 in July 2025 but failed a Senate cloture vote 49-50 on September 15. Kalshi prediction markets give Democrats a 94% chance of taking the House and 74% of controlling the Senate, while TD Cowen says a Democratic sweep would be the least favorable outcome for the crypto industry. The macroeconomic backdrop remains challenging, with Fed rates held at 3.75% to 4%, consumer spending inflation at 3.6% year over year and markets pricing in about a 71% chance of a December rate hike. Options markets remain calm, but traders are watching support between $76,264 and $76,476, followed by September’s low at $74,967.
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