How Bitcoin Looks Heading Into a High-Stakes US Midterm Election Week

Bitcoin is heading into America’s midterm elections with a problem. Wall Street is pulling money out, traders are betting on further losses, and the world’s largest crypto exchange is recovering from a record $6.3 billion hack. The November 3 vote could now add another layer of uncertainty to an already nervous market. Bitcoin briefly fell below $77,000 on October 30 before recovering above $78,000 on Monday. Ethereum also bounced from $2,200 to around $2,287. Yet the recovery has done little to resolve the weakness beneath the surface. Wall Street Is Sending a Warning US spot Bitcoin ETFs lost $643.2 million on October 30, wiping out the inflows recorded during the previous four trading sessions. The week ended with roughly $202 million in net withdrawals.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to BeInCrypto.