Crypto News Today: 4 Nov 2026 – Bitcoin Steadies as Democrats Win Congress

Bitcoin had a jumpy night but is back near where it started. As US midterm results came in, the price briefly fell to around $75,700 before recovering, and at about 08:07 UTC on Wednesday CoinGecko showed Bitcoin at $78,257 (around £58,057), up 2.1% over 24 hours. The big story is political: Democrats have won both the Senate and the House, which changes the outlook for US crypto legislation over the next two years.

Market snapshot

Prices from CoinGecko at about 08:07 UTC on 4 November 2026:

Asset	Price (USD)	Price (GBP)	24h change
Bitcoin (BTC)	$78,257	£58,057	+2.1%
Ether (ETH)	$2,307.86	£1,712.14	+2.4%
Solana (SOL)	$93.18	£69.13	+1.4%
BNB	$703.38	£521.82	+1.6%

For context, Bitcoin closed Tuesday at about $77,300 after trading between roughly $76,300 and $78,000, according to daily data. Reuters notes Bitcoin is still around 41% below its record high above $122,000 set in October 2025, and that the wider crypto market has lost about $300 billion in value over the past month.

Democrats take both chambers of Congress

According to Associated Press counts cited by Investing.com and Cointelegraph, Democrats won clear majorities in both the Senate and the House of Representatives in Tuesday's midterm elections. President Trump told the New York Times he would accept the results.

Markets reacted quickly. CoinDesk reported that Bitcoin had climbed close to $78,000 late on Tuesday as Americans voted, then dropped more than $2,000 as the first results arrived. US stock futures and the dollar also slid. By the London morning, Bloomberg reported Bitcoin trading around $77,900, roughly flat on the day after losses of as much as 2.8%.

Why it matters for crypto: most of the pro-crypto laws passed in the first two years of Trump's term had Republican backing. Reuters notes the industry has spent more than $300 million supporting crypto-friendly candidates from both parties. A Democratic Congress could make it harder to pass the CLARITY Act, the stalled bill that would set rules for US crypto markets, and Cointelegraph says it could bring closer scrutiny of Trump-linked crypto ventures. The picture isn't one-sided, though. In Maine, Democrat Troy Jackson, who has backed clear crypto rules and self-custody, unseated Susan Collins, one of four Republicans who opposed advancing the CLARITY Act in September. Investing.com also reported that the $TRUMP memecoin slid about 4% after the results.

Binance outflows reach $4.72 billion

Binance says customers withdrew a net $4.72 billion after it reopened withdrawals on 1 November, following last week's $6.3 billion hack. The exchange put that at about 3% of the assets on the platform, with most withdrawals in Tether's USDT, and said it had also seen $2.7 billion in inflows. Speaking at Hong Kong Fintech Week, co-CEO Richard Teng said deposits and withdrawals were close to normal levels again.

Binance says it has replaced 95% of the affected assets from its emergency fund and company reserves, and is buying the remaining, less liquid tokens through over-the-counter desks. Recovering the stolen coins is a separate matter: blockchain analytics firm Elliptic estimates the attackers still control about $3.28 billion, mostly Bitcoin and Ether, while Circle says it has frozen more than $1.1 billion in USDC. The FBI has attributed the attack to North Korea's TraderTraitor group, which Pyongyang denies.

The episode is a reminder of why many people keep at least part of their holdings in a wallet they control. If you want to move funds without leaving them on an exchange, you can compare live swap quotes across chains from your own wallet.

ETF outflows and liquidations

Bitcoin.com News reported that US spot Bitcoin ETFs saw roughly $400 million of net outflows on Monday, a sign that institutional investors are still cautious. Tuesday's swings also lifted Bitcoin liquidations to about $96 million, mostly long positions, with liquidations across the wider crypto market topping $365 million over 24 hours.

Block's Bitcoin profit halves

Jack Dorsey's Block said gross profit from its Bitcoin business fell 50% to $52 million in the September quarter, mainly because of lower Bitcoin transaction fees on Cash App, according to Investing.com. The company still beat expectations overall and raised its annual profit outlook.

Solflare gives stakers more time

On Solana, wallet provider Solflare has extended the deadline for users to move staked SOL to a replacement validator until 30 November, The Coin Republic reports. This follows a security incident at an outside provider involving keys linked to Solflare's validator, which stopped it earning rewards. Solflare says no customer funds were taken and that it will cover rewards missed between 26 October and 1 November for users who complete the move in its official app. It has also warned that it will never send migration links by direct message, so treat any such message as a likely scam.

What to watch

• Final midterm counts and any early signals from Democratic leaders on crypto bills such as the CLARITY Act.
• Binance's promised detailed report on the hack, and whether outflows keep settling down.
• Spot Bitcoin ETF flows for the rest of the week.

This roundup is for information only and is not financial advice. Crypto prices are volatile, so always do your own research before making any decisions.

Sources

1. CoinGecko – Live prices for Bitcoin, Ether, Solana and BNB (retrieved 4 Nov 2026, 08:07 UTC)
2. CoinDesk – Bitcoin briefly sinks to $75,700 as bets on a Democratic sweep rattle markets
3. Investing.com – Bitcoin recovers to near $78k as Democrats sweep midterm elections
4. Reuters via Investing.com – Crypto dips on Democrat midterm wins, Binance hack dent optimism
5. Bloomberg via Bloomberg Law – Bitcoin selloff eases as crypto traders absorb Democratic sweep
6. Cointelegraph – 2026 US midterm election live updates
7. The Straits Times – Binance clients pull US$4.7 billion after hack
8. EconoTimes – Binance records $4.72 billion in net withdrawals after reopening
9. Bitcoin.com News – Bitcoin price rebounds from $76K amid sizable ETF outflows, liquidations
10. The Coin Republic – Solflare extends validator migration deadline

FAQ

Why did Bitcoin fall on 4 November 2026?

Bitcoin briefly dropped to about $75,700 as early US midterm results pointed to Democrats winning both chambers of Congress, which traders read as a possible setback for pro-crypto legislation. It recovered to around $78,000 by the London morning.

How much has been withdrawn from Binance since the hack?

Binance said customers withdrew a net $4.72 billion after withdrawals resumed on 1 November, about 3% of assets on the platform, alongside $2.7 billion of inflows.

What is the CLARITY Act?

It is a proposed US bill that would set rules for how crypto markets are regulated. It stalled in the Senate, and a Democratic Congress could make its passage harder.

Not financial advice. This article is for general information only and is not financial, investment or tax advice. Crypto-assets are high risk and largely unregulated in the UK; you could lose all the money you put in. Do your own research.