Bitcoin rebounds with stocks despite threat to crypto agenda

Bitcoin joined a broad rebound across financial markets Wednesday, recovering from a multi-week low even as a Democratic sweep of Congress threatened to deal a fresh setback to the cryptocurrency industry’s political ambitions.

The original cryptocurrency rose as much as 4.2% to just over $81,000, erasing an earlier drop as stocks also reversed losses sparked by the election results. The recovery offered some relief to a market already battered by a major exchange hack and withdrawals from Bitcoin funds.