Bitcoin fell 27% during 2022 US midterms, analysts track ETF outflows near $635 million

Bitcoin ‘s so-called midterm election ‘curse’ has emerged once again as November 3 approaches, with market analysts drawing attention to four separate declines that have accompanied past U.S. voting cycles. Ali Martinez, a well-known crypto market commentator, highlighted this pattern, reviving discussions among investors although there is no direct evidence that elections caused these moves. In a recent social media post on October 24, Martinez pointed to drawdowns of 72% in 2010, 65% in 2014, 52% in 2018, and 27% in 2022, all coinciding with U.S. midterm election periods. His analysis emphasizes declines that occurred around election cycles, rather than annual returns, drawing a distinction critical to this observed pattern. Further examination shows these losses occurred under varied market circumstances.

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