India, Nov. 4 -- Cryptocurrencies are trading in the overnight green zone as markets digest the outcome of the midterm elections in the U.S. Riding a massive blue wave, the Democrats have secured control of both chambers of Congress. Overall cryptocurrency market capitalization has increased to $2.62 trillion while Bitcoin touched a 24-hour high of $78,696 amidst a relief rally attributed to elimination of the electoral uncertainty.
Worries about increased political resistance to pushing crypto-friendly policies however limited the gains for cryptocurrencies.
The positive sentiment in the cryptocurrency market comes amidst the Dollar's retreat, an easing in global bond yields, a plunge in crude oil prices and a surge in the price of gold....