Bitcoin falls to seven-week low as Democrats are projected to sweep Congress

Democrats were projected to take both the House and Senate, raising fears that industry-backed crypto legislation could stall and digital-asset firms could face tougher scrutiny. Bitcoin later traded around US$76,600. Crypto markets were also under pressure from a US$6.3 billion Binance hack and more than US$1 billion in outflows from US-listed spot Bitcoin ETFs on October 30 and November 2.