Analyst: US Midterm Elections Have Historically Preceded Bitcoin Declines
- —Bitcoin drops around midterms: 72% in 2010, 65% in 2014, 52% in 2018, 27% in 2022
- —Q4 in midterm years: +391% in 2010, -16.7% in 2014, -42.16% in 2018, -14.75% in 2022
- —$73,000 is the key support, near the short-term holder cost basis
- —Analyst cautions correlation is not causation; cycles and liquidity also mattered
Why it matters: Traders may brace for higher volatility around the November 3 vote and a demand test near $73,000.
Source: Blockonomi