Bitcoin just hit its lowest since August 📉
BTC: ~$74,800 now, after touching $73,708 overnight — down more than 2% in late Sunday trade. ETH fell ~5% to $2,223, also its weakest since August.
What is driving it: Democrats won both chambers in the Nov 3 midterms, and the market fears a tougher crypto rulebook from the new Congress in January. The CLARITY Act already stalled in the Senate in September. On top of that, US spot BTC ETFs saw $1.28B in outflows in the Nov 2–6 sessions, and the $6.3B Binance hack is still hanging over sentiment.
BTC is below its 50-day average (~$82K) but still above its 200-day (~$73K). That $73K–$73,500 zone is the line to watch this week.
Not financial advice. DYOR.
BTC: ~$74,800 now, after touching $73,708 overnight — down more than 2% in late Sunday trade. ETH fell ~5% to $2,223, also its weakest since August.
What is driving it: Democrats won both chambers in the Nov 3 midterms, and the market fears a tougher crypto rulebook from the new Congress in January. The CLARITY Act already stalled in the Senate in September. On top of that, US spot BTC ETFs saw $1.28B in outflows in the Nov 2–6 sessions, and the $6.3B Binance hack is still hanging over sentiment.
BTC is below its 50-day average (~$82K) but still above its 200-day (~$73K). That $73K–$73,500 zone is the line to watch this week.
Not financial advice. DYOR.
