Bitcoin Price Soars Above $79,000 After Democratic Sweep of Congress

Bitcoin trades near $78,300 after a dip to $75,600 as Democrats sweep both chambers of Congress. Bitcoin price traded near $78,300 on Wednesday morning, up about 1% on the day, after Democrats won control of both the House and the Senate in Tuesday’s midterm elections and dealt the crypto industry its worst night in Washington since 2022. The Associated Press called the Senate for Democrats late Tuesday and the House early Wednesday. House Minority Leader Hakeem Jeffries is in line to become speaker.