Bitcoin rebounds after Democratic sweep despite three days of ETF outflows

Bitcoin rebounded above $78,000 on Wednesday after Democrats won both chambers of Congress , despite three consecutive trading sessions of US spot ETF withdrawals. The Democratic victories in Tuesday's midterm elections dealt President Donald Trump a political setback. In a pre-election Bloomberg survey , respondents had forecast lower year-end Bitcoin prices under that outcome than under Republican or divided control. The survey's median year-end forecast was $76,450 under a Democratic sweep, compared with $84,100 under divided congressional control and $90,800 if Republicans retained both chambers. Ryan Kirkley, co-founder and CEO of blockchain infrastructure company Global Settlement Network, argued ahead of the election that Bitcoin could recover toward $85,000-$90,000 regardless of the outcome. His forecast depended on ETF flows stabilizing, liquidity improving and confidence returning to the broader economy.

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