Bitcoin rebounds from a low of $75,600, with DeFi tokens leading the crypto market gains.

BlockBeats news, November 4 — As the U.S. midterm election results showed Democrats winning control of both chambers of Congress, the crypto market came under pressure, with Bitcoin falling to around $75,600 in the early hours of Wednesday before rebounding quickly. As of 00:00 UTC, Bitcoin was up about 1.3%, recovering to near $78,300; Ethereum rose about 2%, and the CoinDesk 80 Index gained 2.3%.

The DeFi sector performed strongest, with the CoinDesk DeFi Select Index rising about 5%, among which Injective (INJ) gained 6.2%; Venice (VVV) led the CoinDesk 100 Index with a gain of about 7%. Trump-related tokens generally declined.

In derivatives, futures trading volume across the market grew 27% in 24 hours, open interest rose only 3%, and liquidations increased 22% to $469 million. ZEC open interest grew 25% while its price rose 14% over the same period, indicating new capital inflows. The market will next focus on the U.S. employment report to be released on Friday.