#U.S. Midterm Elections: What is the market expecting? I had just finished writing at noon about the Senate flipping 51 seats, and by the afternoon the picture had moved forward significantly: this time, not just the Senate—control of both chambers was settled.
$BTC is now around $78,434, up 1.9% over the past 24 hours on Binance spot, a step up from $77,260 when I posted at noon; $ETH is around $2,322, up 2.6% over 24 hours.
In the House, Democrats have secured 218 seats and confirmed their control (ChainCatcher and Odaily reported the same); they won 6 of 7 battleground states, including Texas, Kansas, Ohio, Iowa, Maine, and Michigan (PANews and Odaily reported the same); and the number of Senate seats flipped has risen from 6 at noon to 7, with the seat in Maine also flipping (Odaily breaking news).
My take is this: at noon, the story was “the Senate flipped”; by afternoon, “both chambers and the battleground states were settled.” The news went from a single data point to the full picture. The market also plunged first and then rebounded, with $BTC back above $78,000—but this is only the first reaction now that the vote count is in. We’ll have to wait for the follow-up legislation to see what actually happens with regulation and fiscal policy.
What do you think will be the first thing the market looks to verify now that control of both chambers is settled?
$BTC is now around $78,434, up 1.9% over the past 24 hours on Binance spot, a step up from $77,260 when I posted at noon; $ETH is around $2,322, up 2.6% over 24 hours.
In the House, Democrats have secured 218 seats and confirmed their control (ChainCatcher and Odaily reported the same); they won 6 of 7 battleground states, including Texas, Kansas, Ohio, Iowa, Maine, and Michigan (PANews and Odaily reported the same); and the number of Senate seats flipped has risen from 6 at noon to 7, with the seat in Maine also flipping (Odaily breaking news).
My take is this: at noon, the story was “the Senate flipped”; by afternoon, “both chambers and the battleground states were settled.” The news went from a single data point to the full picture. The market also plunged first and then rebounded, with $BTC back above $78,000—but this is only the first reaction now that the vote count is in. We’ll have to wait for the follow-up legislation to see what actually happens with regulation and fiscal policy.
What do you think will be the first thing the market looks to verify now that control of both chambers is settled?
