Brazilian parties back Lula’s election win, reject Bolsonaro ally’s bid to annul result

The defection of right-wing and center-right parties from Flávio Bolsonaro's camp signals that the institutional challenge to Lula's victory is losing elite backing even within the former president's own coalition, which matters more for Brazil's political stability than the Liberal Party's annulment bid itself. This affects the credibility of the Bolsonaro-aligned opposition and, by extension, the policy environment that RWA and crypto markets in Brazil monitor. Whether the Liberal Party's push collapses or persists without coalition support is the open question.