Bitcoin price defends $76K lows as analysts see stocks pricing in ‘political gridlock’

Bitcoin (BTC) headed higher at Tuesday’s Wall Street open as a tech-stock rebound under the shadow of uncertainty surrounding the US midterm elections.Key points:Bitcoin price action edged 0.7% higher on Tuesday as US equities avoided succumbing to midterm election uncertainty.Analysis from The Kobeissi Letter suggested markets were pricing in two years of political uncertainty amid expectations of Democratic gains in the midterm elections.WTI crude oil dipped to $93.59 per barrel, its lowest level since Oct. 15, despite fresh US strikes targeting Iran’s Qeshm Island.BTC price volatility cools as stocks riseData from TradingView showed BTC/USD circling $77,000, continuing to retain local lows near $76,300 seen on Friday.BTC/USD one-hour chart. Source: Cointelegraph/TradingViewStocks faced conflicting forces at the start of the US trading session. Apple shares sought to pare losses after falling 4% in premarket trading as the company forecast gross margins of 45% to 46% for the December quarter, down from 47.9% in the previous quarter, citing rising memory-chip costs.Markets also weighed the potential impact of the US midterm elections on the balance of power in Congress. Although p...