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Early midterm results are in — and crypto just blinked. Bitcoin slipped below $77,000 as early results pointed to Democratic gains in Congress, reversing part of its November 3 recovery. The worry in the market: a shift in House control could further delay crypto legislation, including the CLARITY Act. The backdrop was already fragile — Bitcoin and Ether ETFs saw about $1.3 billion in combined outflows over two trading days. The votes were the trigger. The question now is what the new House does with crypto's rulebook.

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