WiremarketsDextape brief
Bitcoin Flips a 12-Year Midterm Pattern. Can It Hold Through Friday?
Bitcoin crossed its most telling election-day threshold before a single vote was counted. On the morning of November 3, BTC traded near $76,990, roughly $3,821 above its 200-day moving average. On each of the previous three U.
Dextape brief
On November 3, the morning of U.S. midterm voting, Bitcoin traded near $76,990, about 5.2% above its 200-day average of roughly $73,169. Its three earlier midterm election mornings all found it below that line. In 2022 it had sat roughly 22% under the average. Even 2018 sat about 9% below. Bitcoin finished higher a year after the 2014, 2018 and 2022 midterms, averaging a 53.7% gain measured from election-day close, per CoinDesk. Those earlier periods began with prices below the long-term average, while this year's recovery is already underway. Friday, November 6, at 8:30 a.m. Eastern brings the Bureau of Labor Statistics' October employment report, which the article says will test whether the lead holds alongside the election results.
Why it matters: It shows where Bitcoin stood against its long-term trend as major U.S. political and economic events approached, a context readers tracking the market would need.
Read the full story
Mentioned in this story
Open a coin page for its current price.