Bitcoin is trading around $80,500 after a sharp post-midterm recovery. It dipped to ~$75,600 as results came in, then rebounded more than 6% — consistent with CoinShares’ James Butterfill’s view that the Democratic sweep was largely priced in. Butterfill: With uncertainty cleared, there is room for a relief rally. The result itself doesn’t necessarily trigger another sell-off. Bigger risk remains slower crypto reform (CLARITY Act faces a harder path) and political noise from Trump-related probes. U.S. crypto equities are more sensitive than BTC. Real yields, USD liquidity, and ETP flows still matter more for Bitcoin.