BUSINESS TIMES SG · 2026-11-04 03:15 UTC

Bitcoin slips as Democratic sweep bets threaten crypto agenda

Bitcoin slipped 1.6% in Asia on Wednesday, trading around US$76,600, as bets on a Democratic sweep of Congress gained traction. A Democratic takeover could stall crypto industry-backed legislation and bring tougher regulatory scrutiny of digital-asset firms. Crypto market is also dealing with fallout from a US$6.3 billion Binance hack and diminished retail enthusiasm, making it difficult to isolate political impacts from industry-specific pressures.

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