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Democrats' Midterm Victory Affects Bitcoin
Democrats' control of Congress following their midterm victory could delay the CLARITY Act and increase scrutiny on the crypto industry, but analysts predict Bitcoin will likely continue to rise in the long term. Bitcoin broke above $78,000 as Democrats took control of both chambers of Congress, strengthening their ability to oversee the Trump administration. The election result may affect the regulatory outlook, with a Democratic-controlled Congress potentially slowing market structure legislation and increasing scrutiny of the crypto industry.