Bitcoin Price Holds Above $76.3K Lows Ahead of US Midterm Elections
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In the world of cryptocurrency, Bitcoin (BTC) price action held firm above its 100-day moving average as markets navigated the lead-up to the US midterm elections and tech earnings releases.
Key Takeaways:
- US Midterm Elections: Kalshi traders predict a 93.6% chance of Democrats retaining control of the House.
- Economic Data: Nonfarm payrolls are expected to rise by 65,000 in October, signaling a potential dovish Fed stance, favorable for crypto.
- Historical Context: Bitcoin has historically underperformed during US midterm elections, falling in each of the past three election years.
Market Analysis:
- Bitcoin (BTC) remained above its 100-day moving average on Monday, mirroring a similar pattern observed in 2023's recovery.
- The fourth quarter has historically been a bear market for Bitcoin during midterm years, with 17.3% drops in 2014, 43.5% in 2018, and 14.8% in 2022.
- Crypto analyst Benjamin Cowen suggests midterms can serve as a signal to increase BTC exposure due to their short-term bearish impact on price.
Coin Prices (as of 11/02/2026):
- BTC: $77,071.93 (-1.85%)
- ETH: $2,256.13 (-1.63%)
- DOGE: $0.07429 (-2.17%)
- TRX: $0.3204 (+2.22%)
- LINK: $11.09 (-2.61%)
- ZEC: $1,147.60 (-8.53%)
- ADA: $0.1892 (-2.37%)
- XRP: $1.24 (-0.72%)
- XMR: $604.15 (+0.41%)
- BNB: $699.00 (-2.21%)
- XLM: $0.1620 (-4.12%)
- SOL: $92.20 (-3.00%)
- HYPE: $84.21 (-4.34%)