Bitcoin Falls 5.5% as Democrats Take Control of Congress

Bitcoin fell 5.5% to $76,036 on Thursday as a sharp U.S. stock selloff coincided with Democratic gains that gave the party control of both chambers of Congress.

At least seven states flipped in the Senate contest. The tallies put Democrats at 54-44 in the Senate and 253-155 in the House. Democrats fell short of the two-thirds majorities needed in both chambers of Congress to override President Donald Trump’s vetoes.

The S&P 500 dropped 4.36% to 7,353.73, its steepest one-day decline since April 2025. The Nasdaq Composite fell 5.52% to 24,315, entering correction territory. Bitcoin’s loss accompanied declines in both U.S. equity benchmarks.