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Trump-linked tokens fall sharply after Democrats win Congress amid scrutiny and Bitcoin rebounds.

Market News
05 Nov 2026, 13:00 WIB
Coingape
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Bearish
Trump-linked tokens fall sharply after Democrats win Congress amid scrutiny and Bitcoin rebounds.

Tokens linked to Donald Trump, including TRUMP, MELANIA, and WLFI, dropped significantly following the Democratic Party's midterm election victories, which raised concerns about increased oversight of Trump family crypto ventures. TRUMP token hit a record low, while wallets tied to Trump Media moved a substantial amount of Bitcoin to Crypto.com, possibly to manage upcoming debt obligations. Despite this, the broader cryptocurrency market saw gains, with Bitcoin rallying above $80,000 and total market value rising 2.53% to $2.68 trillion. Meanwhile, geopolitical tensions with Iran and potential military actions could impact crypto prices going forward.

The TRUMP token is trading at Rp22.920 with a sharp 14.90% drop in the last day as of Nov 05, 2026 18:21 WIB, showing heavy selling pressure with 68% of Pluang orders to sell. This decline aligns with the news of Democratic wins and concerns over Trump family crypto ventures. Despite this, the token still holds a market cap of Rp6,41 trillion and a 24-hour trading volume of Rp9,82 trillion on Pluang.

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