Democratic control of Congress has raised worries over potential delays to cryptocurrency-backed legislation.
BTC rose on Thursday, despite concerns that Democratic control of the US Congress could stall legislation supporting the sector and tighten oversight of digital asset companies.
Democratic control of Congress has raised worries over potential delays to cryptocurrency-backed legislation, especially the Clarity Act, which already faces hurdles in the Senate.
However, political gridlock may limit government borrowing and spending, pressuring Treasury yields and potentially supporting higher-risk assets.
Markets await Friday’s release of the US nonfarm payrolls report to assess the Federal Reserve's monetary policy stance, as futures trading suggests an 82% chance of an interest rate hike in December, according to CME Group’s FedWatch tool.
Changes in Cryptocurrency Prices
Cryptocurrency
Price
($)
Change
($)
Change (%)
BTC
80,478.00
431.13
0.54%
ETH
2,420.68
5.72%
0.24%
XRP
1.3155
0.0121
0.93%
