The US midterms coincided with a sharp reversal across crypto markets. BTC fell to around $76K on election night before recovering above $80K. It has since slipped back below $78K. Election-day BTC options block trades exceeded 660M,more than double the previous session, with~420M in calls bought vs ~$105M sold. On Nov 4 (UTC), $378M in crypto shorts were liquidated within one hour.