Bitcoin Faces U.S. Midterms as Historical Cycle Pattern Returns

Bitcoin reached major bear-market lows after the 2014, 2018 and 2022 U.S. midterms, although each downturn had different causes. Previous post-election declines challenge the assumption that congressional votes immediately trigger cryptocurrency recoveries. Weak technical momentum and declining futures open interest leave Bitcoin vulnerable ahead of the November 3 election. Bitcoin is trading near $78,000 ahead of Tuesday’s U.S. midterm elections, drawing attention to a historical pattern in which the cryptocurrency established major bear-market lows shortly after previous congressional votes. The three completed midterm cycles offer a potentially useful comparison, although their turning points occurred under substantially different financial conditions.

Source: ETHNews