Bitcoin and Ethereum Rebound Amid Post-Election Market Rally
Cryptocurrency markets experienced a broad recovery on November 4, driven by the conclusion of U.S. midterm elections which eased political uncertainty. Bitcoin rebounded above the $80,000 threshold after hitting lows near $75,700, while Ethereum saw significant gains, climbing over 6% to reach a two-week high. This crypto rally coincided with a broader surge in U.S. equities and supported by declining oil prices and easing Treasury yields. Investors are closely monitoring potential regulatory shifts following the Democratic sweep of Congress. Discussions regarding revisions to the CLARITY Act could lead to expanded SEC authority and clearer industry frameworks. While the rebound marks a positive shift after significant outflows from spot Bitcoin ETFs, market participants remain cautious about macroeconomic uncertainty and interest rate expectations.