Midterm Elections Loom as Bitcoin Faces Resistance Near $87,400
Bitcoin's price has lost momentum heading into the final quarter of 2026, pulling back from its recent high near $87,400. The decline comes after a strong September recovery, with BTC now facing resistance near its recent highs as traders assess whether the latest weakness is simply a short-term correction or the start of a deeper pullback.
The upcoming US midterm elections in November are raising concerns that Bitcoin may follow its historical pattern and post negative Q4 returns for the third time. In 2014, 2018, and 2022, Bitcoin's price declined by 16.70%, 42.16%, and 14.75% respectively in the fourth quarter of those years.
However, a chart shared by analyst Ali shows that Bitcoin has historically strengthened after midterm elections. The chart points to Bitcoin entering stronger upward phases after previous election-related periods, suggesting that these periods have not necessarily marked the end of a Bitcoin bull cycle.