Martinez sees risk of BTC downside after Nov. 3 U.S. midterm elections

Crypto trader Ali Martinez said BTC could face downward pressure after the U.S. midterm elections on Nov. 3. Martinez said BTC fell 72%, 65%, 52%, and 27% after the 2010, 2014, 2018, and 2022 midterm elections, respectively. Martinez added this did not mean the elections caused the declines, but described it as a notable pattern. If the historical pattern repeats, Martinez said $73K, the average cost basis for short-term holders, could serve as a key support level. Martinez added the price zone has acted as support during major pullbacks in bull markets.