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Cryptocurrencies slide to two-month lows after US midterms - Finance news and analysis from Global Banking & Finance Review
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Cryptocurrencies slide to two-month lows after US midterms

Published by Global Banking & Finance Review

Posted on November 8, 2026

1 min read

· Last updated: November 8, 2026

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Cryptocurrencies Fall to Two-Month Lows After US Midterm Elections

Market Reaction and Contributing Factors

Sharp Declines in Major Cryptocurrencies

SYDNEY, Nov 9 (Reuters) - Cryptocurrencies fell sharply in late Sunday trade, with bitcoin and ether touching their lowest levels for more than two months, as investors fretted a Democratic Party-controlled US Congress will toughen regulation on the asset class.

Bitcoin and Ether Price Movements

Bitcoin, the oldest and largest cryptocurrency by market capitalisation, fell by more than 2% to $73,708, the lowest price since August. Ether fell about 5% to $2,223, also the lowest since August.

Recent Events Impacting Crypto Markets

Crypto markets have been shaken in recent sessions by a $6 billion heist at Binance, the world's biggest exchange, and the election to office of high-profile critics in last week's US midterms.

Reporting and Editorial Credits

(Reporting by Tom Westbrook; Editing by Nia Williams)

Key Takeaways

  • Bitcoin and Ether hit their lowest levels since August amid midterm‑driven regulatory uncertainty and fallout from Binance’s record‑setting hack.
  • Insurers and US regulators are responding: insurers eye tighter scrutiny of crypto firms, while banking authorities are probing vulnerabilities in traditional finance following the $6.3 billion Binance breach.
  • Democratic control of both Congressional chambers raises concern over slowed or stricter crypto legislation, including diminished prospects for the stalled Clarity Act.

Frequently Asked Questions

How much did bitcoin and ether prices drop?
Bitcoin fell more than 2% to $73,708, while ether declined about 5% to $2,223, both reaching their lowest prices since August.
What other events are impacting the crypto market?
A recent $6 billion heist at Binance, the world's largest crypto exchange, has also shaken investor confidence.
Who reported and edited the article?
The article was reported by Tom Westbrook and edited by Nia Williams.

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