TD Cowen's Jaret Seiberg puts only a 10% chance on a congressional ban on platform stablecoin yield over the next two years, even as banks renew their push after Democratic midterm wins.
Bitcoin price fell to $73,477 overnight, its lowest since August, before bouncing to about $74,700 Monday morning as a Nvidia probe, Democratic regulation fears and ETF outflows hit risk appetite.
Bitcoin price held near $75,800 Friday after U.S. employers added 165,000 jobs in October, far above the 59,000 forecast, as December Fed hike odds climbed toward 80%.
Bitcoin price held near $76,000 Thursday afternoon as the Nasdaq sank deeper into a correction, crypto liquidations topped $1 billion and Strategy, Coinbase and bitcoin miners sold off in double digits.
Bitcoin price holds near $80,000 after rebounding from an election-night low of $75,600, as a short squeeze, a stock rally and a 9% drop in oil follow the Democratic sweep of Congress.
The Democratic sweep and Sherrod Brown’s return may kill the CLARITY Act for two years and may make any industry-backed version impossible as Democrats investigate Trump’s crypto ties, TD Cowen analysts write.