 |
Today at 07:57:04 AM |
|
Bitcoin has gone into each of the last three U.S. midterm elections licking its wounds, but this time around, it's shaping out differently.
Just check Bitcoin’s price relative to its 200-day average, which is a widely-tracked barometer of long-term market trends.
Lately, BTC has traded near $76,990, about 5.2% above its 200-day average of roughly $73,169. An asset trading above its 200-day average is said to be in a long-term bullish trend.
In the last three election cycles (2014, 2018 and 2022), Bitcoin has consistently bottomed shortly after U.S. midterm elections. Each time, the Bitcoin midterm bottom arrived between 13 and 71 days after voters cast their ballots. This time, however, Bitcoin broke that pattern early, hitting a low of $57,718 on July 1, well ahead of the November 3 midterms and 125 days before the election.
This year’s bear market has both been shallow and front-loaded, meaning much of the drop happened in January and February, which is why we are already above the 200-day SMA.
Some still argue that a final low may still be ahead, though, as over the past year, Bitcoin has fallen 26.2% and has declined 7.2% so far in 2026, making them to suggest that the overall trend has not yet changed. ETF flows have also been volatile; for instance, spot funds attracted $528.4 million on October 21 but lost $635.5 million the following day.
So, where do you stand on this? Are we likely to experience more of the same, or might this break in pattern actually be realised fully?
|
