Democrats in Congress could impose tougher rules on crypto and investigate President Donald Trump, ushering in a tougher era for the industry.
Experts say the Democratic sweep was largely priced in, but it makes the road ahead harder for crypto policy.
Bitcoin falls as Democratic sweep bets raise uncertainty over US crypto regulation
Bitcoin bounced back after Democrats won control of Congress, but a stalled market structure bill and heavy industry campaign spending reveal crypto’s exposure to shifting US political power.
Projected election results show Democrats flipping 30 seats in the House of Representatives to secure a strong majority mandate.
One analyst believes the latest drop may have marked another local bottom near a key on-chain support level.
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