Bitcoin Holds $76,300 as Gridlock Is Priced In — SkimNews
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- Bitcoin traded around $77,000 at Tuesday’s Wall Street open, continuing to hold Friday’s local low near $76,300 during a tech-stock rebound.
- Apple shares sought to pare a 4% premarket loss after the company forecast December-quarter gross margins of 45%–46%, down from 47.9% previously, citing rising memory-chip costs.
- Tobin Marcus said investors showed substantial skepticism that the final U.S. election outcome would be as favorable to Democrats as polling suggested, while Wolfe Research assessed that polls were likely overstating Democratic strength.
- The Kobeissi Letter attributed market weakness to U.S. political uncertainty rather than AI-spending concerns alone and said the market was pricing in two years of political gridlock.
- S&P 500 finished Monday down 0.5%, while the Nasdaq Composite fell 1.1%, before Tuesday’s tech rebound.
Why it matters: For Bitcoin traders, the key contrast is that Bitcoin’s move toward $77,000 came during a tech rebound, but the Nasdaq had still closed down 1.1% and the S&P 500 down 0.5% the prior session. With analysts explicitly pricing in two years of gridlock, Tuesday’s recovery reads as resilience inside persistent policy uncertainty, not a clean reversal.
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