Bitcoin holds key support ahead of US elections and data
BROBROK News · Based on reporting by Cointelegraph ·
Bitcoin stayed above its 100-day moving average as traders positioned for US midterm elections, labor data and earnings from major tech firms. The market is also weighing expectations for a December Fed rate hike and the latest BTC price structure.
Key points
- Kalshi traders assigned Democrats a 93.6% chance of winning the House.
- Markets are currently pricing a 0.25-point Fed rate hike in December.
- This week’s US data includes job openings and October nonfarm payrolls.
- BTC held above its 100-day simple moving average and reclaimed its 100-week EMA.
- Apple and Palantir earnings could add to volatility after last week’s tech sell-off.
Why it matters
Bitcoin is being tested by a mix of macro events, election risk and tech-sector earnings, which can amplify short-term swings. The setup matters because BTC is still holding technical support while markets reassess rates and risk appetite.
Original headline: “BTC heads into US midterm showdown: Three things to know in Bitcoin this week”
Read the original on Cointelegraph
Summary and analysis written by BROBROK News from the original report. Read the full story on the source website. Not investment advice.