Bitcoin recovers election losses as Democrats take control of Congress

Bitcoin reversed an early Wednesday decline as the congressional election outcome became clearer, according to CoinDesk. After falling just below 76,000 dollars, the cryptocurrency erased its losses to trade near 78,300 dollars.

Congressional outcome accompanies a sharp reversal

The Nov 4, 2026 report, published at 8:30 AM ET, put Bitcoin’s low at 75,618 dollars, its weakest level in seven weeks. The subsequent rebound carried it above 78,300 dollars before it traded near that level.

The selloff came as Democrats won control of both chambers of Congress. According to CoinDesk, greater clarity about the result eased political uncertainty as Bitcoin recovered.

Election-day options activity rises

Bitcoin options block trades recorded about 660 million dollars in notional volume on election day, according to CoinDesk. That was more than double the previous day’s volume.

The reported total establishes a substantial increase in options activity around the election. It does not, on its own, indicate whether those trades expressed bullish expectations, bearish expectations or hedging demand.

What it means for prediction markets

• Separate the outcome from the price response: Democrats’ control of both congressional chambers coincided with an initial decline and a subsequent recovery, rather than a sustained move in one direction.
• Timing matters for price contracts: The seven-week low of 75,618 dollars and rebound above 78,300 dollars underscore the importance of a contract’s observation window and settlement terms.
• Volume is not a probability signal: About 660 million dollars in options block notional shows increased activity, but the supplied reporting does not establish traders’ directional expectations.