Cryptocurrencies slide to two-month lows after US midterms

Cryptocurrencies plummeted to their lowest levels in over two months following the US midterm elections, as investors grew concerned that a Democratic-controlled Congress would impose stricter regulations on the digital assets. Bitcoin, the largest cryptocurrency by market capitalization, experienced a decline of more than 2% to $73,708, marking the lowest price since August.

Ether, the second-largest cryptocurrency, dropped by approximately 5% to $2,223, also hitting a two-month low. The recent volatility in crypto markets has been attributed to a $6 billion cyberheist at Binance, the world's largest cryptocurrency exchange, and the election of high-profile critics to office during the US midterm elections.