The crypto industry spent $170 million, lost the election, yet crypto prices rose 5%
This may be the most counterintuitive report card of the year.
📉 First, the results: Democrats swept both chambers
They lost both the Senate and the House. In January, the Senate will be firmly controlled by Democrats, and Sherrod Brown—the person Fairshake spent big to defeat—is back, now with his former role as chair of the Banking Committee.
💰 What did $154 million buy?
• A third of it (about $50 million) went toward taking down Sherrod Brown. They lost.
• $10 million went into the Illinois primary against Juliana Stratton. She won the primary, then won the general election.
• The only decent win: $11 million to keep Pete Ricketts in Nebraska.
• Fairshake says it “won multiple competitive races in 2026 and will keep going in 2028,” but on paper, this one is a major blow.
🏛️ The Clarity Act is basically dead
Back in September, when Republicans controlled both chambers, the bill couldn’t even pass a procedural vote. Now that Democrats have taken back both chambers, industry insiders say it’s “dead in the water in its current form”—they’ll have to start over from scratch.
📈 But prices are moving in the exact opposite direction
$BTC $80,570 (up 3.3% in 24h, above $80,000),
$ETH $2,427 (up 5.7%), SOL $96 (up 3.2%), ZEC $1,321 (up 3.6%).
The Fear and Greed Index: still at 26 on 11/3 (Fear), now at 50 (Neutral)—up 24 points in two days.
🧠 My take
This rally isn’t about “regulatory optimism”; it’s about “hopes for macro easing.” On the same day, Brent crude fell more than 8%, the S&P 500 rose 1.6%, and the dollar weakened. The market is betting that Democrats controlling Congress → pressure to end the Middle East conflict → lower oil prices → lower inflation → rate-cut expectations return.
As for crypto itself, Trump family tokens are actually leading the decline—on-chain, no one is paying a premium for a “political narrative” anymore.
💬 So the question is
Is crypto now a “policy asset” or a “liquidity asset”? This vote gave us half an answer: a decisive loss on policy, but a clear rise in prices.
Let’s talk in the comments 👇 Do you think this rebound can last, or is it just short covering?
$BTC $ETH #BTC #CryptoMarket #USElection