Morning Minute: Democrat Sweep Pumps Crypto as Clarity Act Resurfaces

Bitcoin recovered from a seven-week low, rising above $80,800 on Wednesday as markets rallied after oil prices fell. The rebound came amid uncertainty over a Democratic-led Congress, but analysts said broader factors such as real yields, dollar liquidity and investment product flows may matter more than the election result.

Separately, House Democrats are discussing turning Maxine Waters’ crypto investor bill into a broader market structure proposal for the next Congress. The draft could combine provisions rejected from the CLARITY Act with elements previously agreed by senators, while giving the SEC more oversight than the CFTC and adding ethics restrictions for federal officials. The reported talks suggest legislation could return in 2027 after many had expected it to stall for two years.