The primary cryptocurrency has been in a clear uptrend since July, rising 42% over the past three months. Many analysts have flipped bullish, believing the bear market is over and projecting a pump toward a new all-time high during the next cycle.
However, the US midterms in November may divert BTC from its potential bullish path and trigger a substantial correction. Here’s why.
BTC Dump?
The 2026 US midterm elections will take place on November 3, halfway through the president’s term, when voters elect all House members and about one-third of the Senate. This matters because they can change which party controls Congress, affecting Donald Trump’s ability to pass laws and shape national policy.
According to popular analyst Ali Martinez, the voting may negatively impact BTC, citing historical data. He noted that after the 2010, 2014, 2018, and 2022 elections, the cryptocurrency’s price fell 72%, 65%, 52%, and 27%, respectively.
“That does not prove elections caused the declines, but the pattern is worth watching ahead of November 3, 2026,” he said.
Martinez said the fourth-quarter data tells a similar story. He reminded that BTC pumped almost 400% in Q4 2010, but posted losses of 16.7% in Q4 2014, 42.16% in Q4 2018, and 14.75% in Q2022.
“As Q4 begins, seasonality suggests investors should be prepared for volatility,” the analyst warned.
Last but not least, Martinez paid special attention to Bitcoin’s short-term holder cost basis near $73,000, which could become the key support zone if the upcoming post-midterm pattern repeats.
Just a Speed Bump on the Road Higher?
Several X users who commented on
Martinez is hardly the only one anticipating next month to be green. Historically, October has been among the most positive months for BTC, earning it the nickname “Uptober.” The asset has ended in the green in 10 of the past 13 Octobers, and it remains to be seen whether that trend will continue this year.
Source: CryptoPotato
