The dip did not last. Bitcoin slid just below $76,000 early Wednesday as the U.S. midterm results came in, then climbed back to $78,300 by CoinDesk's 09:37 UTC update, a V-shaped move the outlet tied to election uncertainty clearing. Reports pointed to Democrats winning both chambers of Congress, an outcome Paradigm noted Polymarket had priced above 75% for a while. Options desks leaned bullish through it: election-day bitcoin block trades reached about $660 million notional, more than double the day before, with roughly $420 million of calls bought against about $105 million sold. The funds have not followed yet. U.S. spot bitcoin ETFs lost $515 million in October and about the same again in the first two trading days of November, per SoSoValue. "Bitcoin is now oversold and should rally back towards the 82,000 level as its next target," said Markus Thielen of 10x Research. TDX Strategies' Dick Lo noted a Democratic Congress is generally less friendly to crypto legislation, while divided government makes sweeping hostile policy less likely. Giottus' Vikram Subburaj framed the test: holding above $78,000 while ETF redemptions continue would mean other buyers are absorbing the supply.