Washington changed hands this week, and Bitcoin didn’t celebrate. It hit $81,000 on Wednesday, and by Friday it was already below $75,000. If you only watched the price, you missed half the story.
The week of November 2–7 brought four signals worth examining separately, because each plays out on a different timeline.
1. The midterm elections left the CLARITY Act in limbo
On November 3, Democrats won control of both chambers of the U.S. Congress. They take office on January 3, 2027.
Why does it matter? The CLARITY Act, which aims to establish clear rules for the crypto market, had already failed a procedural vote in the Senate in September: 49 to 50, when it needed 60 votes. According to this week’s coverage, if the Senate doesn’t pass it during the remainder of this legislative session, the bill expires with the current Congress, and the process would have to start over.
Analysts are divided. TD Cowen predicted that it doesn’t expect the bill to pass in the next two years. Other lawmakers believe it could come back, but with stricter ethics requirements. Democrats are already discussing a framework that gives the SEC a bigger role, requires clients’ funds to be held separately, and calls for monthly reserve reports.
My take: regulatory clarity is being pushed back by at least a year. That won’t stop adoption, but it does take away a catalyst that many had taken for granted.
2. The market rose on the election result and fell on the jobs report
The initial reaction was bullish: $BTC broke above $80,000 on November 4, with a weekly high close to $81,000. It didn’t last long.
November 5 was the worst day of the week. Bitcoin fell around 6% and $ETH fell more than 6%, amid heavy selling in the stock markets. On Friday, the October jobs report came out: 165,000 new jobs and unemployment at 4.1%. A strong labor market gives the Federal Reserve reason to raise rates, and the odds of a rate hike on December 9 rose from around 67% to nearly 77%, according to FedWatch.
At Friday’s close, Bitcoin was around $75,800 (-2.2% for the week), Ethereum was at $2,237 (-0.7%), and $SOL was at $89.7 (-6%). The Fear and Greed Index remained in fear territory, at around 28.
3. Bitcoin ETFs were selling again
U.S. spot Bitcoin ETFs had just one positive day during the week. Between November 2 and 6, net outflows totaled around $1.28 billion, the worst week since late June. As a result, the cumulative balance for 2026 turned negative again.
It’s worth keeping things in perspective: ETFs aren’t the only buyers. Strategy added 811 BTC during the week and now holds more than 849,000. But when institutional flows reverse, the price loses its most visible cushion.
4. What’s next: a packed week
The coming days are packed with events:
- Tuesday the 10th: U.S. October Consumer Price Index (CPI) data. Probably the most important market event of the week.
- November 15–17: Solana Breakpoint in London, with Alpenglow already up and running.
- Tuesday the 17th: Russia allows retail purchases of BTC, ETH, and USDT through licensed intermediaries.
- Wednesday the 18th: minutes from the Fed’s latest meeting.
Technically, Bitcoin’s 200-day moving average is near $73,200. It’s the level many traders will be watching if the $75,000 area doesn’t hold.
My takeaway
This week confirms something I say often: politics isn’t an investment strategy. The market expected one law to bring order to everything, and suddenly that law is in doubt because of an election result. If my plan depended on that, I’d be improvising today.
That’s why I’m sticking with the same approach. My SOL, BTC, and ETH portfolio is on Nexo, and I DCA every week: 50% SOL, 25% BTC, and 25% ETH, no matter who wins in Washington. And after 966 P2P trades, I’ve learned that market fear can be costly when you sell in a rush—and can be an opportunity when you stick to a plan.
This isn’t investment advice; it’s just how I manage things.
Now I’m asking you: with Democrats in control of Congress, do you think the CLARITY Act will pass before 2028, yes or no? Let me know in the comments.
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