Bitcoin Price Dips Under $76K Then Recovers as Blue Wave Hits Washington

Bitcoin slid to about $75,740 overnight before recovering to $77,000 as U.S. midterm returns showed Democrats taking the House and closing in on the Senate, dragging stock futures and crypto lower together. Bitcoin’s price took a hit on election night, dipping to roughly $75,740 as the results came in. It is currently trading near $77,300 at the time of writing. As expected, the broader market followed as well, with crypto’s total market cap falling about 2.9% over 24 hours to roughly $2.58 trillion (all while ether hovered around $2,240 and XRP closed near $1.26). The sell-off tracked the scale of the Democratic gains.

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