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Bitcoin, Ethereum, XRP and Dogecoin gave back early gains as midterm election polls closed, with an analyst framing the move as a possible “sell the rumor, buy the news” setup. MSTR is the closest allowed ticker to the Bitcoin-linked narrative.
The article
Bitcoin, Ethereum, XRP, Dogecoin Surrender Early Gains as Midterm Polls Close—Analyst Sees ‘Sell the Rumor, Buy the News’ Play Leading cryptocurrencies retreated late Tuesday evening as investors awaited the outcome of the midterm elections. Cryptocurrency24-Hour Gains +/-Price (Recorded at 8:00 p.m. ET) Bitcoin (CRYPTO: BTC)+0.50%$77,190.21 Ethereum (CRYPTO: ETH) +0.90%$2,273.23 XRP (CRYPTO: XRP) +0.90%$1.26 Solana (CRYPTO: SOL) +0.50%$92.37 Dogecoin (CRYPTO: DOGE) +0.50%$0.0746 Crypto Market on Election Day Bitcoin climbed to an intraday high of $77,965.50 before pulling back later in the evening. Ethereum also gave up earlier gains with a sharp overnight decline. Investors are watching Tuesday’s midterm elections, which will shape the balance of power in the House and Senate beginning in January. Polls are beginning to close across several states, reported the Associated Press. Cryptocurrency-related stocks gained during the regular session, with Strategy Inc. (NASDAQ:MSTR) and Bitmine Immersion Technologies Inc. (NYSE:BMNR) closing up 3.72% and 5.07%, respectively. Over $200 million was liquidated from the cryptocurrency market in the last 24 hours, mostly from leveraged long positions, according to Coinglass data. Bitcoin’s open interest fell 3.89% over the last 24 hours. The Long/Short ratio fell below 1, indicating dominance of bearish traders. "Fear" sentiment dominated the market, according to the Crypto Fear & Greed Index. Top Gainers (24 Hours) CryptocurrencyGains +/-Price (Recorded at 8:00 p.m. ET) Lighter (LIT) +8.10% $3.35 LayerZero (ZRO) +7.70% $1.86 Pump.fun (PUMP) +7.40% $0.004288 The global cryptocurrency market capitalization stood at $2.694 trillion, up 0.50% over the last 24 hours. Read Also: Trump Once Said Bitcoin ‘Seems Like A Scam’ And Was Competing Against the Dollar — He Made $1.4 Billion From Crypto As President 4 Years Later S&P 500, Nasdaq Rise The Dow Jones Industrial Average fell 197.26 points, or 0.38%, to close at 51,786.72. The S&P 500 rose 0.36% to 7,568.92, snapping a three-day losing run, and the Nasdaq Composite gained 0.83% to end the session at 25,372.01. When Will Bitcoin’s Correction End? Michaël van de Poppe, a widely followed cryptocurrency analyst and trader, anticipated a "sell the rumor, buy the news" reaction following the midterm elections, but acknowledged that Bitcoin is still not out of the woods. “Clearly breaking through the resistance at $79,000 would be giving me confidence that the correction is over,” the analyst added. “Things take time. Just accumulate.” A phenomenal response from the lows on #Bitcoin. However, the big day is still upon us. Tomorrow; – Results of the midterms are coming in. – Scott Bessent might inject more liquidity into the markets. Anyway, my main thesis that I think that we're bottoming in this region on… pic.twitter.com/XkpXzYU3Pd — Michaël van de Poppe (@CryptoMichNL) November 3, 2026 Ali Martinez, another prominent cryptocurrency chartist, spotted a TD Sequential “Buy” signal on Ethereum’s 3-day chart, indicating that the “correction could be nearing its end.” “If buying pressure picks up, ETH could rebound to $2,500. Breaking that level would put the setup resistance trendline near $2,700 in focus,” the analyst projected. 2/5 Ethereum has fallen 22.64%, from $2,806 to a low of $2,171. Now, the TD Sequential has flashed a buy signal on the 3-day chart, suggesting the correction could be nearing its end. If buying pressure picks up, $ETH could rebound to $2,500. Breaking that level would put the… pic.twitter.com/0fJ6sDrSIE — Ali Charts (@alicharts) November 3, 2026 Read Also: Could Bitcoin Solve America's $40 Trillion Debt Crisis? Photo Courtesy: KateStock on Shutterstock.com