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Online prediction markets currently assign a 53% probability to a Democratic sweep of the House and Senate in November.
For cryptocurrency investors, this potential shift in political power raises concerns about the fate of pro-crypto legislation, leading some analysts to advise rotating portfolios away from assets exposed to regulatory risk and toward those with established institutional support.
Dominic Basulto, writing for The Motley Fool, identifies Bitcoin as the preferred asset in this scenario.
He notes that Bitcoin holds approximately 60% of the total crypto market capitalization, which stands at $2.6 trillion.
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