Bitcoin

This fits into a broader pattern of fiscal dominance and political fragmentation across major economies. Brazil's leftward shift reinforces the global trend toward increased social spending and potential currency debasement, which historically acts as a slow-burning tailwind for hard assets like Bitcoin. Meanwhile, U.S. midterm spending inefficiency hints at legislative gridlock, which often stalls crypto-specific regulation and leaves the market in a holding pattern.

Republicans are spending millions on midterms but may not win districts drawn to favor them, and Brazil's Luiz Inácio Lula da Silva won a fourth term in a political comeback.