QUICK SPARK: Bitcoin Finishes Higher 1 Year After Every US Midterm Election Since Its Launch
Bitcoin has finished higher in the year following every U.S. midterm election since its launch. Binance data show the cryptocurrency gained 24.5% after the 2014 midterms, 44.9% after 2018 and 92.3% after 2022.Bitcoin ETFs See Strong InflowsThat historical trend is supported by recent activity in Bitcoin ETFs. As of Oct. 22, U.S. spot Bitcoin ETFs attracted more than $1.07 billion in net inflows over three trading sessions, reversing October’s earlier outflow trend.BlackRock and Fidelity significant contributions from the iShares Bitcoin Trust and Fidelity Wise Origin Bitcoin Fund . This surge contrasts with Ethereum ETFs, which lost approximately $1 billion during the same period.Institutional Demand Underpins BitcoinInstitutional interest also plays a crucial role in Bitcoin’s performance. Spot Bitcoin ETFs recorded $347 million in net inflows on Sept. 23, lifting weekly inflows to $2.06 billion.Crypto analyst Scott Melker noted that was behind Bitcoin’s rebound, suggesting a solid foundation for future growth.Midterm Elections and Bitcoin’s ProspectsAs the U.S. midterm elections approach, Bitcoin’s potential for a rally is under scrutiny. Market commentators noted Monday that Bitcoin has historically gained in the 12 months following midterm elections. in, while bears target $73,000 as a potential downside.Further supporting a potential rally, an Oct. 12 analysis highlighted improving on-chain demand and whale accumulation. , limiting immediate selling pressure and supporting a pre-election rally despite macroeconomic risks.Bitcoin Holds Above $80,000 as Saylor Signals More Buying While ETF Inflows CoolBitcoin Mining’s Next Evolution May Be Owning The Rewards, Not The HardwarePreview Image: Shutterstock