Bitcoin rebounds from dip as DeFi tokens lead market gains

Bitcoin rebounds — Bitcoin has recovered from a brief dip to around $75,600, with decentralized finance (DeFi) tokens leading the market higher as Trump-linked memecoins declined.

The price dip coincided with the Democratic Party securing control of both chambers of the U.S. Congress following the November 4 midterm elections. Market sentiment appeared to shift quickly, with Bitcoin regaining ground above the $76,000 level.

While Bitcoin stabilized, several major DeFi tokens posted significant gains, outperforming the broader crypto market. In contrast, a suite of memecoins themed around former President Donald Trump saw notable declines following the election results.

The divergence highlights a rotation in trader focus away from politically speculative assets and back toward protocol fundamentals, with DeFi’s on-chain activity and yield opportunities attracting capital.