TL;DR
Bitcoin fell below $77,000 after failing near $79,000, with an initial snapshot placing BTC around $76,400 ahead of the U.S. midterm election outcome.
ZEC and NEAR led notable losses, falling 8.6% and 7.3% respectively in the initial reading, while Ethereum slipped to $2,260 and BNB moved below $700.
Later CoinMarketCap readings kept BTC, ZEC and NEAR under pressure, reinforcing broad weakness without proving election uncertainty directly caused the market selloff.
Bitcoin fell below $77,000 as selling pressure returned ahead of the U.S. midterm election outcome , reversing the recovery that had taken BTC toward $79,000 on Monday. The initial market snapshot placed Bitcoin near $76,400 after another rejection at higher levels. Its market capitalization slipped to about $1.54 trillion while dominance remained just under 60%. The move extends the latest Bitcoin market weakness without establishing the election itself as the cause of the decline.
Bitcoin Weakness Spreads Across Altcoins as Election Results Approach
The pullback followed a failed attempt to rebuild momentum after the Binance-driven selloff , which had pushed Bitcoin to roughly $76,100 before a weekend recovery. BTC climbed toward $79,000 on Monday but failed to hold the advance and moved lower again. A later market reading placed Bitcoin near $76,628, down about 2.2% over 24 hours. The renewed test of the $76,000 to $77,000 area comes as traders also assess historical post-midterm volatility .
Altcoins showed deeper losses in several large and mid-cap assets, led by ZEC and NEAR . The initial snapshot showed ZEC falling 8.6% to below $1,150 , while NEAR dropped 7.3% to $3.83 . ENA declined 5.7%, whereas RAIN gained 5.6% against the broader weakness. Ethereum, BNB and several other major assets also traded lower. The pattern echoed recent sessions where NEAR led broader altcoin losses as pressure spread unevenly across the market.
A later CoinMarketCap reading showed the same directional pressure but different intraday magnitudes , underscoring the need to separate dynamic snapshots. ZEC was near $1,139, down roughly 10% over 24 hours, while NEAR traded near $3.79, down about 7%. Total crypto market capitalization had fallen to around $2.58 trillion in the earlier snapshot. These readings describe short-term market conditions, not a fixed closing level or a confirmed trend.
The session leaves Bitcoin testing support while altcoins absorb greater relative pressure ahead of a major political catalyst . U.S. midterm voting takes place on November 3, but the timing alone does not prove that election uncertainty caused the selloff. Bitcoin has repeatedly moved through the same price region during other macro-sensitive sessions, including earlier volatility around Federal Reserve decisions . The immediate question is whether buyers can stabilize BTC around $76,000 to $77,000 or whether continued selling pushes the market toward lower support while ZEC, NEAR and other altcoins remain more vulnerable during the next phase of trading today overall.
