Bitcoin · Federal Reserve (FED) · Iran · Bitcoin Magazine
Bitcoin price opened November near $78,500 and has shed about $2,000
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On Oct. 28, after a hawkish Federal Reserve hold and weak earnings from Alphabet and Samsung, the price fell below $80,000 for the first time in weeks, with about $356 million in leveraged positions liquidated.
Key facts
- Traders are watching support between $76,264 and $76,476, which lines up with the 200-day exponential moving average
- Bitcoin price trades near $77,500 as midterm voting begins, pressured by a record $6.3 billion Binance hack, ETF outflows, a Fed leaning toward a December hike and oil above $100 on Iran tensions
- Bitcoin price opened November near $78,500 and has lost about $2,000
- The 50-day EMA near $80,800 is the first resistance
Summary
Bitcoin price trades near $77,500 as midterm voting begins, pressured by a record $6.3 billion Binance hack, ETF outflows, a Fed leaning toward a December hike and oil above $100 on Iran tensions. Bitcoin price traded near $77,500 on Tuesday morning as polls opened for the U.S. midterm elections, down about.6% on the day and roughly $30,000 below its price one year ago, according to Bitcoin Magazine Pro data. The vote decides control of Congress and, with it, the fate of the CLARITY Act, the market structure bill that passed the House 294-134 in July 2025 and failed a Senate cloture vote 49-50 on Sept. 15. Prediction markets on Kalshi give Democrats a 94% chance of taking the House and 74% for the Senate. Crypto groups spent more than $200 million on the midterms, CNBC reported.