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Bitcoin neared $78,600 and Ethereum hit $2,300 as US midterm elections intensified scrutiny on crypto regulation, highlighting market sensitivity to policy shifts.
Bitcoin traded near $78,330, up 1.87% in 24 hours, while Ethereum rose to $2,317, a 2.41% gain, as investors closely watched US midterm election outcomes and potential regulatory changes. The global crypto market cap surged 1.81% to $2.62 trillion, though institutional outflows persisted, with US spot Bitcoin ETFs losing $399 million on Monday. The Fear and Greed Index dipped to 34, signaling investor caution, while the Altcoin Season Index hit 46, indicating altcoin optimism.
The market’s cautious stance reflects broader macroeconomic uncertainty and institutional hesitancy, according to ET Markets. ETF outflows and geopolitical risks continue to complicate short-term price movements. Delta Exchange and WazirX, among others, face shifting sentiment as policymakers balance innovation with oversight. Institutional investors remain wary of regulatory delays, which could exacerbate volatility.
Potential regulatory clarity or renewed institutional inflows could support price recovery, ET Markets noted. However, risks persist, including sustained institutional outflows and adverse policy outcomes. Altcoins like BNB and Solana fell up to 9.42% weekly, underscoring market fragmentation. Strategy continued buying added 811 BTC worth $65.5 million, while repurchasing $208.2 million of its STRC preferred shares, signaling mixed institutional signals.
The focus on US midterm elections underscores crypto’s reliance on policy frameworks. ET Markets highlighted that regulatory uncertainty and macroeconomic signals remain key drivers of investor confidence. Exchanges and policymakers face pressure to navigate innovation and oversight, while institutional investors monitor liquidity conditions and ETF flows for directional clues.
Markets will monitor Friday’s US employment report, Federal Reserve rate expectations, and the November 3 US midterm elections for policy cues.
Crypto markets remain volatile amid regulatory uncertainty and macroeconomic concerns, with midterm outcomes shaping policy trajectories.
Topics: Cryptocurrency, Bitcoin, Ethereum, US Elections, Regulatory Policy, ETFs, Market Volatility, Altcoins, Institutional Investors, Macro Trends
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Source: ET Markets
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