Bitcoin Price Dips to $75.6K as Democrats Sweep US Midterms
Analysts said Bitcoin must hold its $75,733 50-week moving average after a $288 million long liquidation wave and a brief dip below $76,000.
- On Tuesday, Bitcoin fell to $75,618 on Bitstamp as Democrats won control of both the House and Senate in midterm elections, triggering sharp crypto market volatility.
- Total long liquidations reached $288 million over 24 hours as markets digested the Democratic sweep, which investors had largely priced in beforehand.
- Analysts warn that Bitcoin must defend its 50-week SMA, now at $75,733, to avoid a "deeper correction" after the recent price volatility.
- President Donald Trump, who previously said he could become "Mr. Veto," struck a conciliatory tone, stating, "I think we'll work with the Democrats."
- Crypto trader Rekt Capital flags overhead resistance on the three-day chart, noting newfound 3-Day Lower Highs may guide price toward the $75.5k level over time.
12 Articles
12 Articles
The victory of the Democrats in the US mid-term elections caused severe turbulence in the financial markets. Bitcoin briefly fell below $76,000 before rebounding, while the dollar and bond yields were declining. Also a setback for the crypto industry, which had massively financed the vote to defend its interests in Washington. L-article Midterms: Bitcoin, Dollar, Stock Exchange... Markets react to Trump's defeat appeared first on Cryptoast.
[Digital Daily Reporter Kim Nam-gyu] As the likelihood of the Democratic Party winning both the Senate and the House of Representatives in the U.S. midterm elections increased, the price of Bitcoin plummeted before rebounding. Bitcoin, which had fallen below $76,000 (approximately 101.88 million won) at one point, recovered to the $78,000 (approximately 104.56 million won) level. Predictions are emerging that if the Democratic Party gains contro…
Bitcoin plunged to a seven-week low as early projections of a Democratic victory in the US midterm elections sparked a sell-off in the cryptocurrency. But it then tailed off… Bitcoin: Plunges to 7-week low before finally…recovering – Investors weigh Democratic victory - ΙΝΑΦΤΕΜΟΠΟΡΙΚΙ
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