Key facts
- Reuters said bitcoin fell by more than 2% to $73,708, the lowest since August.
- Ether fell about 5% to $2,223, also its lowest price since August, per Reuters.
- Reuters attributed the selling to concern a Democratic-controlled Congress will toughen crypto regulation.
- Crypto markets were already unsettled by a $6 billion heist at Binance, Reuters said.
- The report said last week's midterms brought high-profile crypto critics into office.
Bitcoin fell by more than 2% to $73,708 and ether fell about 5% to $2,223 in late Sunday trade, both the lowest prices since August, Reuters reported on November 9 from Sydney. The report said investors were concerned that a Democratic Party-controlled US Congress will toughen regulation of crypto assets.
Reuters said crypto markets have been shaken in recent sessions by two developments: a $6 billion heist at Binance, which it described as the world's biggest exchange, and the election to office of high-profile critics in last week's US midterms. The report did not say when the Binance heist occurred or give further detail on it.
According to Reuters, bitcoin is the oldest and largest cryptocurrency by market capitalization. The report gave no named investor or analyst for its account of the reasoning behind the selling, and it did not give a closing level for any session.