Bitcoin strategist sees rally after Democrats win House and Senate

What happened

Pseudonymous crypto analyst DonAlt, known for timely Bitcoin calls and followed by 797,800 people on X, wrote that Bitcoin's monthly chart turned green after the asset fell to $75,000 on Nov. 4. In a post cited by The Daily Hodl, he said the monthly chart looks as if it wants to go straight back to its all-time high and that he hopes the strength continues. The strategist also pointed to the $70,000 area as support and raised the possibility of a higher low on the monthly chart.

DonAlt also pushed back on the idea that Democratic victories are necessarily bearish for crypto. He wrote that the more Democrats win, the less grifting will be allowed, adding that he considers that a good thing. His comments came as Democrats won majorities in both chambers of Congress in the Nov. 3 midterm elections, according to the Associated Press. Democrats took 54 Senate seats to Republicans' 44 and 237 House seats to the GOP's 147.

The election drew a separate response from Ripple. CEO Brad Garlinghouse said in a Nov. 5 post on X that pro-crypto lawmakers had won seats in both parties and that the new Congress has the same mission of clear rules built in America. Chief Legal Officer Stuart Alderoty said the industry's election results should be judged separately from how either party performed and that Ripple would keep working with both parties on federal digital-asset rules. Blockonomi reported those comments.

Why it matters

Control of Congress gives Democrats the legislative agenda for the final two years of President Donald Trump's term, the reports note. For the crypto industry, that makes the path for federal market-structure legislation the central question. The CLARITY Act, which would set federal rules for crypto markets and clarify the roles of the SEC and CFTC, remains the top legislative goal, according to Ripple. The bill stalled in September when a Senate motion to begin debate failed 49 to 50. The reports say future talks will involve lawmakers who have raised concerns about consumer protection, financial oversight and the industry's political influence.

What the data shows

The reports contain several figures on the election and crypto spending. Democrats won 54 Senate seats and 237 House seats, while Republicans won 44 and 147, respectively. Fairshake, the crypto industry's largest political action committee, had won 29 of the 34 races decided as of Nov. 4, according to Reuters data cited by Blockonomi. Industry-linked political groups spent about $176 million across more than 100 congressional races by late October, with Fairshake and its affiliates accounting for most of that total. In Ohio, Democrat Sherrod Brown defeated Republican Jon Husted despite more than $60 million in spending by crypto-backed committees. Fairshake says it has about $56 million available for future campaigns and plans to stay active in 2028. Ripple cited an estimate of 67 million American crypto users.

Background

Bitcoin reached an all-time high of $126,000 in October 2025, according to The Daily Hodl. The report says the asset dropped to $75,000 on Nov. 4 before the monthly chart turned positive. DonAlt also recalled an earlier episode when Bitcoin barely sold off after a $6.34 Binance hack, comparing the lack of follow-through to the period after the FTX collapse. He said that setup made him strongly bullish at the time and that the market later moved from $16,000 to $100,000. He said it is hard to be bearish after seeing a similar setup again.

What is still unclear

The reports do not say when the new Congress will take up the CLARITY Act or whether its stalled text will change. They also do not give a timetable for the Bitcoin move DonAlt described, and his posts are social media commentary rather than a formal forecast. The reports do not assess how the defeats of industry-backed candidates Bryan Steil and Bill Huizenga will affect crypto's lobbying strategy. Ripple said it would continue through super PACs, advocacy groups and education efforts, but the reports do not detail specific new legislative commitments.

What to watch

The main items to watch are the CLARITY Act's path through a Democrat-controlled Congress and whether lawmakers' concerns over consumer protection and financial oversight reshape the bill. Also watch Fairshake's 2028 plans and Ripple's stated work with both parties. For Bitcoin, the reports point to the $70,000 support area and the Nov. 4 drop to $75,000 as levels DonAlt cited; they do not provide a price target or timeline beyond his comment about a possible return to the record high.

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