Democrats projected to sweep Congress, bitcoin hits $75,700

Bitcoin climbed close to $78,000 while Americans voted on Tuesday, then dropped more than $2,000 as the first results came in. CoinDesk put the low near $75,700 early Wednesday US time, before buyers lifted it back to about $76,700 in Asian morning trading. Over 24 hours, the move was almost flat. The politics behind it was anything but.

Democrats are projected to control both chambers of Congress next year. CoinDesk, writing at 11.55 p.m. Eastern on November 3, said the party flipped several Senate seats and even more House seats. Those are projections from US media outlets, not certified results: counting was still running in several states when the projections landed.

The Senate seats that changed hands

In Texas, James Talarico won with 59% of the vote on the latest count CoinDesk cited. In North Carolina, Roy Cooper won with nearly the same share. South Carolina picked Annie Andrews, Kansas picked Adam Hamilton, and Iowa picked Josh Turek. In Ohio, former senator Sherrod Brown won his way back to Washington even though the crypto industry spent $63 million trying to stop him, the industry's most expensive single-race effort.

Nebraska told a similar story at midnight: Fairshake spent almost $11 million on Pete Ricketts, who was trailing at the halfway mark of that state's count. In the House, Democrats flipped more than a dozen seats in the first hours after polls closed, and political analysts projected a margin that could pass 60 seats, far above the 218 needed for a majority. That 218 mark itself had not been reached when CoinDesk filed.

What changes for crypto

The market read it at once. S&P 500 futures fell 1.3%, wiping out an early 0.5% gain, and Nasdaq 100 futures dropped 2.3%. The 10-year US Treasury yield slid six basis points to 4.90%, and the MSCI Asia Pacific Index slipped nearly 2%. Among large crypto assets, ZEC bounced about 5% to roughly $1,200 after a 10% fall on Tuesday, while ether near $2,260 barely moved, SOL slipped about 1% to just under $92, and BNB lagged, down more than 1% to about $689.

The stakes go beyond one bill. Democrats who sat in this year's failed Digital Asset Market Clarity Act talks wanted tighter illicit-finance controls, limits on government officials taking part directly in the industry, and stronger consumer protections. Those positions are likely to harden now. Senator Elizabeth Warren is expected to chair the Senate Banking Committee that must sign off on crypto legislation, and Brown could gain a role over crypto matters even though his seniority was erased by his 2024 loss. In the House, Maxine Waters could return to lead the Financial Services Committee, while Republican chair French Hill held a narrow lead in Arkansas and Bryan Steil trailed by about 3% in Wisconsin.

We are not writing this as the end of the US crypto regulation story. Industry insiders quoted by CoinDesk still hope for progress on a crypto taxation bill, but hold little hope for a fresh market-structure effort. And one caution belongs with the numbers above: a projection is not a certification. Races were still being counted, and the final makeup of Congress can shift from Tuesday night's projections. Our CFTC stock-perps article is here. Our Tether reserve-gap article is here.

Sources: CoinDesk (Nov 3, 2026), USA Today (Nov 3, 2026), Associated Press (Nov 4, 2026). Figures and status are snapshots at writing time, midday November 4, 2026 WIB, and can change.

Written by Mastechon

Writing about crypto and Super Intelligence: market news, new projects, Super Intelligence models, and early opportunities like airdrops and testnets. Every piece starts from the official announcement, with the costs worked out up front.