U.S. Midterms Drive Bearish Sentiments Among Crypto Traders

Crypto investors have turned bearish in recent days amid expectations that Republicans could lose control of Congress. Crypto intelligence firm Santiment disclosed this in a post on X, noting that the crowd was bullish on the Midterms Election just two weeks ago. According to Santiment, discussions about the U.S. midterms have increased significantly as Election Day approaches. However, concerns about the potential shift in political power have also increased. The bearish sentiment signals the broad belief among crypto investors that Republican control of Congress is better for the industry.