Bitcoin and Ethereum recovered Wednesday after Democrats won control of both houses of Congress in the U.S. midterm elections, despite the results likely making the crypto industry’s push for friendlier federal rules more difficult.

The crypto market recovery, in technical terms, appears to be more a natural bounce, and in line with expectations, instead of a trend reversal or a FOMO-driven spike. The overnight selloff also reversed as U.S. stock futures bounced back, making it hard to pin the recovery on politics alone.

Bitcoin briefly hit a six-week low before a bounce that took it back to just above $80,000 once again, above its average price of the last 50 days, which is a solid bullish sign after weeks…