Crypto market outlook after US midterms, will Bitcoin reclaim $80,000?

The cryptocurrency market recovered from an initial selloff following the US midterm elections, as Bitcoin climbed back above $78,000 and investors turned their attention to what a Democratic-controlled Congress could mean for digital assets. Summary Bitcoin recovered above $78,000 following the US midterm elections, while declining volatility and renewed buying activity supported a broader recovery across financial markets. CoinShares expects slower progress on US crypto legislation under Democratic control of Congress, although Bitcoin could remain less exposed to regulatory uncertainty than exchanges and token issuers. Talos reported $848 million in overnight trading volume across Hyperliquid’s major equity index perpetual futures, roughly 81 times the volume recorded across tokenized spot venues. Ebury expects the election results to be mildly negative for the US dollar, but sees Federal Reserve policy, inflation and Treasury yields as more important drivers of market direction. Bitcoin’s November recovery faces continued institutional selling pressure, with spot ETF outflows and historically weaker performance following negative Octobers remaining key concerns. While the elect...