Midterms: Bitcoin, dollar, stock market… Markets react to Trump’s defeat
The victory of the Democrats in the American mid-term elections caused significant turbulence on the financial markets. Bitcoin briefly fell below $76,000 before rebounding, while the dollar and bond yields fell. A…
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https://cryptoast.fr/midterms-2026-bitcoin-dollar-bourse-defaite-trump/
The victory of the Democrats in the American mid-term elections on November 3, which allowed them to regain control of both houses of Congress, initially caused the financial markets to decline.
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Bitcoin (BTC), near $78,000 before the results, fell to around $75,630 during the Asian session, a decline of almost 2.8%. However, it quickly rebounded, reaching $78,300 on Wednesday morning.
For Dick Lo, founder of TDX Strategies interviewed by Reuters, this rebound can be explained in particular by the disappearance of electoral uncertainty. A Democratic Congress could put the brakes on pro-crypto reforms, but the outcome was widely anticipated.
According to Nicolas Quatravaux, head of EMEA at Paradigm, investors bought around $420 million worth of call options on Bitcoin during the election, betting on a rise in prices.
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The dollar lost as much as 0.6% against major currencies, reaching its lowest level in a month. Gold at the same time gained 2.4%, to $4,022 per ounce.
👉 On the same subject – Donald Trump caused investors in his crypto projects to lose more than $4.7 billion
US bonds also rose, pushing down their yields. That of two-year Treasuries fell to 4.598%, while that of ten years briefly touched 4.89%.
According to Jim Reid, an economist at Deutsche Bank cited by Reuters, investors anticipate more difficulty for Trump in passing new spending, which could limit public deficits. Markets also slightly reduced their expectations of rate hikes from the Federal Reserve. This decline in bond yields and the dollar could ultimately support Bitcoin and other risky assets.
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- Cryptoast4 Nov, 10:41
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