Bitcoin Should Be CRASHING After The Blue Wave

Bitcoin did not crash after the “blue wave”: it fell briefly after the election results, then recovered alongside other markets. The host said the election had not changed Bitcoin’s price or damaged the bull-market thesis, and suggested that greater political certainty helped markets move forward. During the recording, Bitcoin was around $79,300 and rising after touching the 50-week moving average; one speaker viewed that average as a bull- or bear-market marker.

Crypto interests lost in nearly every meaningful race despite roughly $176 million in crypto spending, with crypto and AI PACs winning only two of 11 competitive races. Crypto groups spent $95 million overall to defeat Sherrod Brown, including $64 million during the election, but Brown won. Elon Musk spent about $474 million, much of it in Texas races, and the candidates he supported lost. Speakers said crypto spending could not overcome wider voter dissatisfaction, which they linked to unmet goals, inflation, and war.

Mauricio argued that crypto had become too closely tied to one party and needs bipartisan support to avoid policy reversals when power shifts. He expected turbulence for the Clarity Act, putting its prospects in the low single digits when he last checked. Speakers expected the current version to stall and said a future bill could be more restrictive, although one doubted that a more anti-crypto bill would pass in the next two years. A Democratic Congress could use the Binance incident and crypto’s permissionless protocols as political ammunition.

The GENIUS Act was described as difficult to walk back now that it is law, though executive agencies could still provide relief or regulatory clarity. Speakers stressed that durable changes require legislation to pass both the House and Senate and be signed into law; agency action can be reversed, and progress may come in stops and starts. They also said the election could not alter Bitcoin’s underlying operation: blocks will keep being mined, Bitcoin ETFs already exist, and people worldwide can access it.

One speaker said Bitcoin has historically risen six and 12 months after midterm elections, but cautioned that the four-year Bitcoin cycle coincides with the election cycle and that shared expectations could make the pattern self-fulfilling. The speaker expected dips to keep being bought unless Bitcoin fell below $75,000, with $70,000 the more important level. They also argued that larger deficits strengthen Bitcoin’s “deficit-absorbing” case, while currency debasement—not election outcomes—drives its investment thesis.

The discussion also examined the Binance hack amid a headline citing $6.3 billion in crypto theft involving fake job interviews and AI tools. A speaker characterized the Binance incident as North Korean social engineering, not an attack newly devised by an AI model, and called it the industry’s largest hack to date by four times. Binance’s roughly $6 billion in outflows was small relative to its estimated $140–150 billion in platform assets, but speakers questioned how large withdrawals could appear legitimate without triggering alarms. They said the need for rapid, high-volume trading can conflict with security, and cited hot-wallet exposure, multi-signature custody, qualified custodians, withdrawal reviews, verification calls, and proof of reserves as relevant security considerations.