Bitcoin rebounds after Democratic sweep despite three days of ETF outflows
Bitcoin recovered above $78,000 after briefly dipping below $76,000 as Democrats won both chambers of Congress, despite about $1.16 billion in US spot Bitcoin ETF outflows over three sessions. Analysts said the result could complicate crypto legislation and shift congressional priorities toward oversight, though the new Congress will not take office until January 2027. Santiment reported sharply worsening social sentiment, which it said could create conditions for a contrarian rebound. Other potential supports include lower Treasury yields and a weaker dollar. Glassnode identified $81,500 as the estimated cost basis of ETF holdings and $84,000-$85,000 as a resistance zone, with support near $75,800-$76,200. Investors will watch whether ETF flows return or continue weighing on Bitcoin.
