Bitcoin price defends $76K lows as analysts see stocks pricing in ‘political gridlock’
Summary
Bitcoin traded near $77,000 at the US market open, holding above Friday’s local low around $76,300 as volatility eased and technology stocks rebounded. Markets remained cautious amid uncertainty over the US midterm elections and the possibility of a divided Congress and legislative gridlock. Apple shares attempted to recover after a premarket decline tied to a forecast of lower quarterly gross margins, partly due to rising memory-chip costs. Meanwhile, WTI crude briefly rose to $98.80 after a US strike on Iran, then fell below $94, its lowest level since Oct. 15, following a sharp drop the previous day.
