Bitcoin Rebounds to $76,700 After Plunge on Projected Democratic Midterm Sweep

Bitcoin rebounded to approximately $76,700 after dropping sharply to a low of $75,700 as U.S. midterm election projections showed Democrats securing majorities in both chambers of Congress. Projections indicate Democrats secured a 51-seat Senate majority and flipped at least 30 House seats to win the chamber, creating a divided government under President Donald Trump. Cryptocurrency markets weakened over concerns that Democratic committee leadership will impose stricter oversight and derail industry-backed legislation, including the CLARITY Act, despite crypto political action committees deploying tens of millions of dollars on Republican candidates.