Bitcoin Flushes After Democratic Scandal: BTC Claims Back $78,000 Bitcoin has fallen to a 7-week low of $75,600 following the US midterm elections, reacting negatively to Democratic control of Congress. The cryptocurrency quickly recovered to over $78,000 as political uncertainty eased and buyers returned to the market. Analysts say that Bitcoin's recent price action may point to a local bottom, with support around $75,800 that could lead to further upward movement if it can regain the $80,000 resistance level.