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Bitcoin Faces Fifth Weekly Loss as US Midterms Weigh In
TL;DR Bitcoin faces more losses as it heads toward a potential fifth consecutive weekly decline, extending its slide from around $87,000 to near $76,500. Uncertainty surrounding the US midterm elections is keeping investors cautious about risk-sensitive assets, including cryptocurrencies.
Dextape brief
Bitcoin is on track for a possible fifth straight weekly drop, falling from roughly $87,000 to near $76,500, per figures published November 3. Traders are reassessing riskier holdings ahead of the US midterm vote, whose result could shape economic policy and crypto rules, including whether digital asset legislation advances. Technology shares also weighed. Apple beat forecasts on quarterly revenue and earnings, yet its outlook flagged costlier memory chips and AI service spending that could squeeze margins, pushing its stock lower before the open. Oil rose too, with West Texas Intermediate near $98 a barrel and Brent above $106 as US-Iran tensions stayed in focus. Pricier energy could keep inflation elevated and delay rate cuts, potentially restraining demand for speculative investments.
Why it matters: It shows how election uncertainty, big-tech earnings worries and geopolitical risk can pull crypto alongside broader risk appetite.
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