Bitcoin rebounded from a seven-week low as traders digested expectations of a Democratic sweep in the US midterm elections. The recovery followed an earlier selloff, with investors reassessing the potential implications for the crypto industry under a new political landscape. Thielen, head of 10x Research, noted that President Trump’s commitment to respecting election results and voter sentiment against war have fueled hopes for restarting peace talks regarding the conflict with Iran that began in February. "Bitcoin is currently oversold and should rebound," Thielen stated.