WASHINGTON – Bitcoin fell to a seven-week low as the prospect of a Democratic sweep of the US Congress began showing up in early US midterm election results, adding political uncertainty to a market already struggling with fragile investor appetite.

The original cryptocurrency slid as much as 2.8% to US$75,630.57 in Asia trading on Nov 4, its lowest level since Sept 17.

It pared some losses to trade around US$76,600 as at 12.20pm in Singapore.

The move followed declines in US stock futures and the dollar, while Treasuries gained, reflecting expectations that Democratic control of Congress could lead to gridlock in Washington.

“Markets react to change, and a blue flip will likely introduce additional scepticism given the party’s…