On the day the election results were announced, risk assets breathed a sigh of relief: BTC recovered from around 75,700 to above 80,000, while politically-linked cryptocurrencies retreated by nearly 20%. The dissipation of near-term uncertainty does not equate to looser regulation. With the Democrats winning both houses of Congress, the prospects for the Clarity Act are even darker, and politically tied cryptocurrencies are the first to be repriced. I'm watching two things: whether the 80,000 level can hold, and whether the bill will be pushed through during the lame-duck period. BTC