Why Is Crypto Down? Altcoins Lose Up to 25% in a Month as Americans Vote, and One Trader’s Midterm Chart Points to Another Leg Lower

Why is crypto down? Because the Binance hack, two days of heavy ETF outflows and today’s US midterm elections hit an already weak market at once. An interesting chart is circulating on X: trader dealer.eth’s chart shows Bitcoin fell 15% to 51% after each of the last three midterms. Does history repeat itself? Bitcoin is the strong one, and it is still down. BTC trades at $77,088, 7.8% lower than on October 1. Most large altcoins have lost two or three times that. --> Solana is down 21.7% since the start of October, Dogecoin 21.3% and Cardano 23.3%.