[Huobi HTX Chief Analyst Andy: "Divided Congress" Should Not Be Overly Pessimistic; Midterm Elections Not the Core Variable for Crypto Market] BlockBeats reports that on November 4th, the results of the 2026 US midterm elections were largely clear, with the Democrats regaining control of both the House and Senate, leading to a "divided Congress" for the Trump administration. Regarding the potential impact of this outcome on the crypto industry, Huobi HTX Chief Analyst Andy believes the biggest change is a weakening expectation of regulatory legislation. While passed stablecoin bills are unlikely to be easily reversed, and long-term trends such as stablecoin payments and RWA remain, the progress of market structure legislation like the CLARITY Act has significantly increased. In the next two years, the industry will rely more on administrative regulatory reforms by the SEC and CFTC than on congressional legislative breakthroughs. This means that policy certainty in the crypto industry has decreased, and some projects relying on expectations of regulatory easing may face valuation adjustments. The market outlook is slightly bearish in the short term, but excessive pessimism is not advisable. On the one hand, a Democratic majority in Congress may limit Trump's ability to further expand fiscal stimulus, thus lowering risk appetite for tech stocks and crypto assets. On the other hand, limited fiscal expansion may also push down US Treasury yields, creating room for improved liquidity. The election result is not the core variable determining the direction of this market trend. After political uncertainty dissipates, market focus will return to Federal Reserve policy, ETF fund flows, and the performance of US stocks. In the short term, caution is advised regarding volatility and leverage liquidation, while in the medium term, valuation repair driven by improved liquidity, as well as sectors with genuine demand such as stablecoins and RWA, are worth watching. Note: This article does not constitute investment advice, nor does it constitute an offer, solicitation, or recommendation to invest in any product.