which triggered a broad rally across risk assets.

Nevertheless, the world’s largest cryptocurrency remains well below its recent highs, as traders express concern over the regulatory outlook under a Democratic-controlled Congress—a party that has historically favored stricter oversight of the cryptocurrency sector.

By 07:40 Moscow time, Bitcoin had climbed 3.6% to $80,543.2, recovering from a dip toward the $75,000 level seen earlier this week. Other cryptocurrencies also saw a rebound.

A weaker U.S. dollar and lower Treasury yields provided further support for crypto prices, as did a sharp drop in oil prices—driven by growing optimism that Congress might now pressure the White House to bring an end to the conflict with Iran.

Bitcoin rebounds following U.S. midterm election results, though risks persist.

Cryptocurrency prices rose alongside a general rally in risk assets; the Democratic victory in both chambers of Congress removed a key source of market uncertainty.

Markets were also buoyed by a statement from U.S. President Donald Trump, in which he acknowledged the election results and expressed a willingness to work with the Democrats.

However, a Democratic-controlled Congress has historically subjected cryptocurrencies to more rigorous regulatory scrutiny. In fact, it was the Democrats who played a pivotal role earlier this year in blocking a major piece of regulatory legislation—the so-called "Clarity Act." While not all Democratic lawmakers are opposed to cryptocurrencies, a significant number express skepticism toward the industry and advocate for stricter anti-money laundering (AML) regulations and enhanced risk management within the sector.

A Democratic victory has also cast doubt on the future of cryptocurrency legislation, given that most previously proposed measures were supported primarily by Republicans.

This factor has acted as a drag on Bitcoin’s overall recovery.

Riot Platforms sold 79% of its Bitcoin holdings in the third quarter.

Bitcoin faced additional pressure following a disclosure from major miner Riot Platforms (NASDAQ: RIOT), which reported on Wednesday that it had sold 10,599 Bitcoin during the quarter ending in September, reducing its reserves to just 2,418 coins.

The sale was primarily intended to fund Riot’s ongoing pivot toward artificial intelligence; however, it has raised questions about whether Bitcoin mining remains profitable at all—a scenario that does not bode well for the sector as a whole.

Nevertheless, Riot’s sales occurred during a third-quarter rally for Bitcoin, which likely helped the market absorb a significant portion of the volume. The world’s largest cryptocurrency gained approximately 43% in the third quarter, driven largely by buying activity as investors took advantage of attractive price levels following extended losses earlier in the year.

Cryptocurrency prices today: Altcoins recover alongside Bitcoin.

Cryptocurrency prices rose across the board on Thursday, largely tracking Bitcoin’s recovery following a difficult October.

Ether, the world’s second-largest cryptocurrency, climbed 5.6% to $2,420.54, while XRP rose by 2.3%. Solana and Cardano each gained more than 3%, while BNB rose by 2%.

Dogecoin climbed 2.3%.

$TRUMP — a memecoin themed around the president — was the major exception to the overall trend, plunging 17.2% on Thursday following a sharp decline in the wake of the midterm election results.