Bitcoin Falls Below $77,000 Ahead of US Midterm Vote Count

Bitcoin fell below $77,000 amid uncertainty over the outcome of the US midterm elections.

As of 9:37 a.m. Korea time on November 4, Bitcoin was trading at $76,960.82 on global crypto exchange Binance, down 0.34% from a day earlier. On Upbit's won market, it was down 0.61% at 103.67 million won.

Major altcoins also pared gains or turned lower. Ether rose 0.27% to $2,265.73 after giving back most of an earlier gain of more than 2%. XRP traded 0.40% higher at $1.2554, while Solana fell 0.64% to $91.84.

The crypto market is closely watching the US midterm vote count. The election is a key variable in gauging President Donald Trump's ability to push ahead with policy in the second half of his term. Investors are particularly focused on whether Democrats retake the House and whether the balance of power in the Senate shifts, as either could affect crypto regulatory policy.

In Congress, major legislative discussions are under way, including on the CLARITY Act, which is intended to reshape the regulatory framework for digital assets. If the makeup of Congress changes after the election, both the bill review timeline and the direction of regulation could shift.

Recent outflows from US spot Bitcoin exchange-traded funds have also weighed on the market. Over two days, on October 30 and November 2, US spot Bitcoin ETFs saw roughly $1.04 billion in net outflows, fueling concerns about slowing institutional demand.

Market participants are watching for continued short-term volatility in Bitcoin until the midterm election outcome becomes clearer. Whether Bitcoin can regain the $77,000 level, along with moves in US stocks and spot ETF fund flows, are seen as the main variables shaping its next price direction.