Democrats Sweep Both Chambers; Bitcoin Rebounds Past $78,000

The market's reaction looks less like a verdict on Democratic crypto policy than a relief trade out of election uncertainty — bitcoin recovering its pre-result losses and gold pushing higher suggests macro hedging, not a sector-specific signal. The more telling detail is the industry's roughly $63 million spent in Ohio failing to unseat Sherrod Brown, a reminder that campaign spending does not reliably convert into legislative outcomes. Whether that spending translates into influence over the new Congress, and how the Democratic majorities actually treat crypto legislation, is the open question worth watching.