Bitcoin recovered after falling below $76,000 to a seven-week low as investors assessed political uncertainty surrounding the U.S. midterm elections and the possibility of Democrats gaining control of Congress.

Bitcoin briefly dropped to $75,618, its lowest level since September 16 2026 before recovering to around $78,000 as markets reacted to Democrats winning control of both chambers of the U.S. Congress.

11.04.2026 https://t.co/5E7bPqvkAt

— BitKE (@BitcoinKE) November 4, 2026

The sell-off followed concerns that a Democratic-controlled Congress could stall crypto-friendly legislation including efforts to establish a clearer regulatory framework for digital assets.

The recovery came as investors re-assessed the election outcome which analysts said had largely been priced into markets. Bitcoin’s rebound also followed nearly $288 million in liquidations of leveraged crypto long positions over 24 hours.

EXPERT OPINION | U.S Crypto Regulation Likely to Advance Through Agencies

Bitcoin’s 50-week moving average, around $75,733, remains a key support level. Analysts warn that a sustained break below it could expose the market to a deeper correction.

The wider crypto market also remains under pressure following the $6 billion Binance security breach which has weakened investor confidence and triggered billions of dollars in customer withdrawals.

MILESTONE | Binance Gets Hacked in the Largest Crypto Exploit in History

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