Cryptocurrencies rallied after Democrats won control of both chambers of Congress in a decisive US midterm election. Bitcoin broke above $78,000 after briefly dipping below $76,000, while Democratic gains could delay market-structure legislation such as the CLARITY Act. Analysts said Bitcoin’s immediate reaction is likely to depend more on macroeconomic conditions and onchain demand than on the election result. However, a divided government may limit the likelihood of abrupt policy changes and reduce the direct impact on crypto markets.
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