The cryptocurrency market’s total capitalization rose 2.36% over 24 hours as attention focused on the U.S. midterm elections and the Binance hack. Democrats, who lost the presidency and majorities in both congressional chambers to Republicans in the 2024 presidential election, won a significant midterm victory that reshaped the political balance. Fundstrat co-founder Tom Lee said Democrats were backing crypto legislation they had previously opposed, raising expectations for regulatory clarity, while CoinShares Research Head James Butterfill offered a separate assessment of the election’s potential impact on Bitcoin and the broader crypto market.