Bitcoin bounces from 7-week low under $76K as Democrats sweep Congress
Summary
Bitcoin fell to $75,618 as US midterm election results emerged, then rebounded to $78,039. The decline liquidated long positions below $76,000; crypto long liquidations totaled $288 million over 24 hours. A Talos researcher said the roughly 1.7% move matched options-market expectations and that investors had largely priced in the outcome. Bitcoin’s low aligned with its 50-week moving average, which analysts identified as important support: losing it could deepen the correction. Resistance near $78,000 and a possible return toward $75,500 remained in focus.
