After Trump’s midterm election losses cost him both chambers, he won’t be able to manipulate the stock market, oil prices, and crypto as he pleases.
With the midterms over and political uncertainty easing, BTC bounced to around $80,000 yesterday. As with the drop after Binance was hacked some time ago, this rebound is driven only by short-term sentiment. Whether the rally can continue will depend on the Fed’s rate path and capital flows.
Once the short-term sentiment fades, Democratic control of both chambers is likely to slow progress on the CLARITY Act, and regulatory expectations are likely to tighten.
With the midterms over and political uncertainty easing, BTC bounced to around $80,000 yesterday. As with the drop after Binance was hacked some time ago, this rebound is driven only by short-term sentiment. Whether the rally can continue will depend on the Fed’s rate path and capital flows.
Once the short-term sentiment fades, Democratic control of both chambers is likely to slow progress on the CLARITY Act, and regulatory expectations are likely to tighten.