Don't want to trade it yourself?
Our desk runs DEX portfolios on profit share.
Bitcoin did not follow its past pattern of marking a bear-market bottom shortly after U.S. midterm elections, instead hitting this year’s low on July 1, 125 days before the Nov. 3 election, and then rebounding about 40%, CoinDesk reported.
According to the analysis, BTC marked bear-market lows 71 days, 38 days, and 13 days after the 2014, 2018, and 2022 midterm elections, respectively. This year, however, BTC fell to $57,850 on July 1 and had recovered to about $81,455 as of Oct. 22. CoinDesk added that technology stocks have at times weakened around midterm elections, but the pattern has not been consistent, and Bitcoin’s historical weakness around midterms appears to be more closely tied to its own market cycle than to the elections themselves.