Democrats won control of both the House and Senate on November 3. Bitcoin dropped to $75,601 that night, then bounced back above $80,000 by Wednesday.

The bigger casualty may be the CLARITY Act. It already failed a Senate procedural vote in September. Analyst Mati Greenspan called the sweep “the final nail in the Clarity Act’s coffin,” and CertiK’s Stefan Muehlbauer said it’s “likely dead in the water in its current form.”

House Democrats are now reportedly weighing their own market structure bill, built around Maxine Waters’ consumer protections. Two years of lobbying could be starting over.

The Nasdaq fell 5.5% on November 5, wiping out a record $2.5 trillion and tipping into correction territory. Chip stocks lost about 12%, and Nvidia went negative for the year. CoinDesk tied the selloff to fears that a Democratic Congress will slow the AI data center buildout.

Bitcoin fell from above $80,000 to about $75,000. More than $1 billion in leveraged longs got liquidated, and spot ETFs lost about $430 million in a day.

Bitcoin still trades like a tech stock when tech panics. Holders who wanted a hedge got a correlation instead.

A week after revealing it sold $431.8 million of bitcoin this year, Strategy is buying again. Saylor announced 811 BTC bought and $208 million of STRC repurchased, which brings holdings to 849,327 BTC as of November 1.

STRC, the preferred stock Strategy has been propping up, then traded back to its $100 par for the first time since May. Bitcoin Magazine expects the buying to pick up once it holds above that line.

811 coins is a small buy by Saylor’s standards. A healthy STRC is what makes Strategy the biggest buyer in the market again.

The US added 165,000 jobs in October, more than double the 65,000 economists expected. Unemployment dipped to 4.1%, and the prior two months were revised up by 84,000.

Two Fed officials already voted to hike last week. A labor market this strong takes away the easiest argument for waiting. The Fed’s next meeting is in December.

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