Summary
- Bitcoin (BTC) fell below the $76,000 level amid uncertainty surrounding the U.S. midterm elections.
- Major altcoins including Ether (ETH), XRP and Solana (SOL) were also showing weakness.
- As the possibility of Democrats taking both chambers of Congress in the U.S. midterm elections comes into focus, concerns over delays to crypto asset legislation and tighter regulation are weighing on investor sentiment.
Forecast Trend Report by Period
Bitcoin continued to fall amid uncertainty surrounding the U.S. midterm elections, slipping below $76,000.
As of 12:04 p.m. Korea time on November 4, Bitcoin was trading at $75,878.79 on Binance's USDT market, down 0.85% from a day earlier. On Upbit's won market, it was quoted at 102.248 million won, down 1.99% from the previous day.
Major altcoins including Ether also traded lower. Ether fell 0.75% to $2,234.22, while XRP slipped 0.06% to $1.2475. Solana also dropped 1.62% to $90.45.
The decline is being attributed to rising expectations that Democrats could win control of both chambers of Congress in the U.S. midterm elections. In the market, concerns are growing that if Democrats secure the Senate in addition to the House, the Trump administration's crypto-friendly policy push could be checked. In particular, fears of delays in crypto-related legislation and tighter regulation of the industry appear to be weighing on investor sentiment.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.