SYDNEY, November 9, 2026: Bitcoin and other major cryptocurrencies fell to their lowest levels in more than two months as investors grew concerned that the newly elected Democratic-controlled US Congress could introduce tougher regulations for digital assets.
Bitcoin, the world’s largest cryptocurrency by market capitalization, declined more than 2% to $73,708 during late Sunday trading, reaching its lowest level since August.
Ether, the second-largest cryptocurrency, recorded a steeper decline of approximately 5%, falling to $2,223, also its lowest level since August.
The sell-off followed last week’s US midterm elections, which raised concerns among cryptocurrency investors about the possibility of stricter oversight of the digital asset industry.
Market participants fear that a Democratic-controlled Congress could pursue tighter regulations affecting cryptocurrency exchanges, trading platforms and other digital asset businesses.
The latest declines also come amid heightened uncertainty following a reported $6 billion cryptocurrency theft at Binance, the world’s largest cryptocurrency exchange.
The security incident has unsettled investors and renewed concerns about the risks associated with digital asset trading and exchange security.
According to Reuters, the combination of political uncertainty in Washington and the recent cryptocurrency security breach has weighed on market sentiment.
The election of several prominent cryptocurrency critics during the US midterms has added to concerns about the future regulatory environment for the industry.
Bitcoin and Ether remain among the most closely watched digital assets, with their price movements often reflecting broader investor sentiment across the cryptocurrency market.
The latest declines highlight continuing volatility in digital asset markets as investors assess potential regulatory changes and security risks.