Bitcoin rebounded from an earlier sell-off after hitting a seven-week low, and investors weighed the Democratic Party's expectations of an overall win in the US midterm elections and its impact on the cryptocurrency industry. The price of Bitcoin is hovering around $77,900 and is currently basically flat. It previously fell 2.8% before rebounding. US stock futures also showed a similar trend. The US dollar weakened against all G10 currencies, reflecting market expectations that the Democratic Party's control of Congress could lead to an impasse in Washington. Major cryptocurrencies declined in response to the preliminary vote count results. The Democratic Party has always advocated greater regulation of the cryptocurrency industry, and the market expects that the party will control the House of Representatives, and control of the Senate is pending. Within hours of most polling stations closed, predictions showed that the Democratic Party had won control of both houses, while President Trump told the media that he would cooperate with the opposition.

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