Bitcoin rebounded to around $78,000 on November 4, 2026, after briefly falling below $76,000 to a seven-week low, as investors assessed political uncertainty surrounding the United States midterm elections and the prospect of Democrats taking control of Congress.

The world's largest cryptocurrency by market value 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 — the House of Representatives and the Senate.

11.04.2026 — BitKE (@BitcoinKE) November 4, 2026

Source: X (Twitter)

The earlier sell-off reflected concerns that a Democratic-controlled Congress could stall crypto-friendly legislation, including efforts to establish a clearer regulatory framework for digital assets. Federal legislation must clear both chambers to become law, which is why control of the House and Senate carries such weight for the sector's regulatory outlook.

The recovery came as investors reassessed the election outcome, which analysts said had largely been priced into markets — meaning anticipated outcomes are already reflected in asset prices. Bitcoin's rebound also followed nearly $288 million in liquidations of leveraged crypto long positions over 24 hours. Such liquidations occur when exchanges forcibly close leveraged positions whose collateral no longer covers potential losses, a mechanism that can amplify downward price moves.

Midterm elections, held halfway through a U.S. president's four-year term, determine all 435 seats in the House of Representatives and roughly one-third of the Senate, with the outcome shaping the legislative agenda — including pending digital-asset bills — for the following two years. How those bills fare under the new Congress will be a key storyline for the industry.

Bitcoin's 50-week moving average, around $75,733, remains a key support level. Moving averages of this span, calculated from roughly a year of weekly closing prices, are widely watched as gauges of the longer-term trend. 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.