Why have Bitcoin and Ether plunged to 2-month lows
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Bitcoin dropped over 2% to $73,708 and ether fell 5% to $2,223, hitting two-month lows.
- ✓Markets reacted to a $6 billion Binance heist and the Democratic win at the November 3 midterms.
- ✓Mike Katz said, “the legislative agenda changes, oversight gets.” These events left many investors worried about future crypto regulations.
Story at a Glance
- Category
- Indian Markets
- Reported By
- Financial Express
- Reading Speed
- 4 Minute(s)
- Market Focus
- India Economy
While Bitcoin dropped more than 2% to $73,708, ether slipped about 5% to $2,223, both cryptocurrencies’ lowest levels since August.
The massive shake-up comes as markets are already under pressure following a record $6 billion heist at the world’s biggest exchange, Binance.
How Democratic win at the midterms could impact crypto
As the Democratic “blue wave” swept the United States at the November 3 midterms, possibly the biggest blow for the crypto industry came from Ohio. Democrat Sherrod Brown, known as a crypto skeptic, emerged victorious in his race to return to the Senate.
As reported by Reuters, this contest was one of the most expensive in the Senate’s history, with crypto political action committees (PACs) splurging over $60 million to beat Brown.
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Financial Express
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