As Americans head to the polls for the midterms, Bitcoin investors who bought during the last one have plenty to cheer. Bitcoin has seen a major correction around each of the last four midter
As Americans head to the polls for the midterms, Bitcoin investors who bought during the last one have plenty to cheer.
Bitcoin has seen a major correction around each of the last four midterm elections, and the next one falls on Nov 3.
According to a report, Bitcoin slid about 5% to $19,725 on Nov. 8 2022, the day of the last midterm elections, as FTX’s liquidity crisis unfolded.
A $1000 investment that day would have bought about 0.0507 BTC. At $76,786, Bitcoin’s price on Oct. 31, that stake would now be worth about $3,893, a gain of roughly 289%.
Under former President Joe Biden, Washington took a far more cautious line on crypto heading into the 2022 midterms.
Related: Elon Musk has a bold answer to America’s $40 trillion debt crisis
In March 2022, Biden signed an executive order directing federal agencies to study the risks and benefits of digital assets and to explore a possible U.S. central bank digital currency, Mayer Brown noted.
President Donald Trump’s return to the White House brought a friendlier stance on crypto.
Trump signed an executive order in March 2025 directing the government to hold seized Bitcoin rather than sell it. The U.S. now holds about 200,000 BTC, according to Sen. Bill Hagerty.
Bitcoin went on to hit a record $126,080 on Oct. 6, 2025. At that peak, the same $1,000 would have been worth about $6,392.
The ride has been bumpy since. Bitcoin was down roughly 39% from that high and lost 8.23% in October. CoinGlass data suggested it was on track for its worst October in 12 years.
The stakes this time run through Washington’s biggest crypto bill.
“If the House shifts and we get gridlock, the CLARITY Act may be harder to pass,” Shark Tank star Kevin O’Leary said.
He isn’t betting on a quick price pop either way. “Even if the legislation passes, I’m not convinced it automatically sends Bitcoin higher,” O’Leary said.
According to analyst Ali Charts, Bitcoin could face a sharp pullback after the U.S. midterm elections on Nov. 3.
The analyst laid out a pattern of post-midterm declines going back to 2010 and named $73,000 as the level to watch if history repeats.
The analyst pointed to Bitcoin's performance following the 2010, 2014, 2018 and 2022 midterms, when the token fell 72%, 65%, 52% and 27%, respectively.
He was careful to note that the elections did not necessarily cause the drops, but called the pattern worth watching as Nov. 3 approaches.
If you follow our market coverage, don’t miss the Roundtable 100. Updated every Friday, it's a power ranking of the 100 most investable tech stocks, including digital assets. Check out the latest RTB 100 rankings at roundtable100.com.
Related: Bitcoin's $350,000 price target comes with a terrifying warning, analyst says
