CoinShares Research Head: Bitcoin Has Largely Priced In a Democratic Landslide, Room for Rebound

Odaily Reports: James Butterfill, Head of Research at CoinShares, commented on the results of the November 3 U.S. midterm elections, stating that Bitcoin has largely priced in the expectation of a Democratic landslide, and with uncertainty removed, there is room for a rebound; the election results will not necessarily trigger a new round of selling. He warned that a slowdown in crypto reform is the bigger concern, the Clarity Act faces a more difficult path forward, and investigations into Trump-related businesses could consume political capital and trigger negative coverage of the crypto industry. Butterfill believes that U.S. crypto stocks may be more sensitive than Bitcoin, especially exchanges, token issuers, and companies reliant on new regulatory licenses; compliant operators could benefit from competitors facing stricter scrutiny.