Bitcoin Price Surpasses 200-Day Moving Average, Historical Trend is Strong

Bitcoin is currently priced at approximately $76,990, exceeding the 200-day moving average of $73,169 by 5.2%. Historical data shows that on the U.S. midterm election days in 2014, 2018, and 2022, Bitcoin was below the 200-day moving average, being approximately 35%, 9%, and 22% lower, respectively. Martin Lee, head of research at DWF Labs, pointed out that Bitcoin's performance after midterm elections typically experiences volatility or slight bearishness, but the following 12 months usually see an increase. He believes that while the long-term historical trend is favorable for Bitcoin, short-term volatility should still be monitored, especially with the escalation of geopolitical conflicts and the impact of AI trading on risk assets.

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