Crypto Daily is our column tracking crypto market trends, offering timely insights and valuable updates to keep you informed.

Crypto News

Bitcoin Rebounds With Stocks Despite Threat to Crypto Agenda

Bitcoin joined a broad rebound across financial markets Wednesday, recovering from a multi-week low even as a Democratic sweep of Congress threatened to deal a fresh setback to the cryptocurrency industry’s political ambitions.

The original cryptocurrency rose as much as 4.2% to just over $81,000, erasing an earlier drop as stocks also reversed losses sparked by the election results. The recovery offered some relief to a market already battered by a major exchange hack and withdrawals from Bitcoin funds.

For crypto, the election poses a political setback but a more complicated economic picture. Democratic control of Congress threatens to stall industry-backed legislation and bring tougher scrutiny of digital-asset firms. Yet political gridlock could curb government borrowing and pull Treasury yields lower, potentially supporting riskier investments. The picture is further muddied by the AI boom, which has drawn speculative capital away from crypto but whose weakening could also drag down stocks and broader risk appetite.

Tokenization and stablecoins may weather Democrats' sweep as broader crypto rules face uncertainty

Wall Street's plans to put stocks, bonds and funds on blockchain rails, along with growing stablecoin payments businesses, may have a better chance of weathering Democrats' midterm sweep than other corners of crypto.

Both can move ahead under existing laws, even as Washington's broader digital asset agenda and President Donald Trump's claim to make the U.S. the world's crypto capital face a tougher political landscape, industry experts told CoinDesk Wednesday.

Trump-Linked Tokens, AI Data Center Stocks Suffer on Blue Wave

The Democrats’ midterm sweep is rattling some of the digital-asset market’s most politically exposed investments, from cryptocurrencies tied to Donald Trump to the sprawling Texas data-center projects underpinning valuations of companies that used to be known as Bitcoin miners.

The price of WLFI tokens from World Liberty Financial, co-founded by Trump, dropped by about 6% in the last 24 hours, while his namesake memecoin declined about 19%, according to data compiled by CoinGecko.com. Trump Media & Technology Group Corp. shares tumbled 25%, while the exchange-traded fund DJTU, providing leveraged exposure to the company, declined almost 50%.

Bitcoin & Ethereum Spot ETF Flow

The overall net inflow of the US Bitcoin spot ETF on Wednesday was $74.57 million. The total net asset value of Bitcoin spot ETFs is $102.26 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 6.35%.

The Bitcoin spot ETF with the highest net inflow on November 4 was Fidelity Wise Origin Bitcoin Fund (FBTC), with a net inflow of $236.72 million, according to SoSoValue.

Source: SoSoValue

The overall net inflow of the US Ethereum spot ETF on Wednesday was $53.02 million. The total net asset value of Ethereum spot ETFs is $14.12 billion, and the ETF net asset ratio (market value compared to total Ethereum market value) is 4.77%.

The Ethereum spot ETF with the highest net inflow on November 4 was iShares Ethereum Trust ETF (ETHA), with a net inflow of $32.75 million, according to SoSoValue.

Source: SoSoValue