Bitcoin (BTC) Price: Rebounds Above $77,000 After Midterm Election Results Cut Uncertainty

TLDR Bitcoin fell below $76,000 early Wednesday, then recovered to about $77,890. Democrats are set to win both chambers of Congress, according to reports. Santiment says the bullish-to-bearish comment ratio for BTC is back near 0.51. U.S. spot Bitcoin ETFs saw $515 million in outflows in the first two days of November. Analysts name $79,000 to $82,000 as the levels to watch. Bitcoin recovered quickly on Wednesday after a dip below $76,000. The price fell as reports showed Democrats winning control of both chambers of Congress. It then climbed back to trade near $77,890. CoinDesk reported that BTC erased its early losses in a V-shaped move. The cryptocurrency was up about 0.5% on the day at the time of writing.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to CoinCentral.