Bitcoin price rises above 200-day moving average, breaking the bearish trend ahead of the US midterm elections.

Bitcoin is currently priced at approximately $76,990, 5.2% higher than its 200-day moving average of $73,169, breaking the bearish trends seen before the US midterm elections in 2014, 2018, and 2022. Martin Lee, Head of Research at DWF Labs, stated that historical data shows Bitcoin's price action typically becomes volatile or slightly bearish in the initial months following midterm elections, but subsequently rises over the next 12 months. While the long-term outlook is favorable, short-term volatility should be monitored.