--- title: "Bitcoin Returns to $77,000; Mid-Term Election Outlook Remains Bullish for Medium to Long Term" type: "News" locale: "en" url: "https://longbridge.com/en/news/304183679.md" description: "Driven by the rebound in US tech stocks, Bitcoin has climbed back to the $77,000 threshold. Although the mid-term elections bring short-term uncertainty, analysts remain bullish on the medium-to-long-term trend, citing that prices are above the 200-day moving average and historical data showing post-election gains. They advise caution regarding short-term geopolitical and AI sentiment risks" datetime: "2026-11-04T00:23:02.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/304183679.md) - [en](https://longbridge.com/en/news/304183679.md) - [zh-HK](https://longbridge.com/zh-HK/news/304183679.md) generator: "portal-rs" --- # Bitcoin Returns to $77,000; Mid-Term Election Outlook Remains Bullish for Medium to Long Term According to Woofun AI, against the backdrop of AI-related stocks leading the rally in US technology shares, capital has accelerated into the digital asset market, pushing Bitcoin successfully back above the key psychological threshold of $77,000. This price recovery not only establishes a short-term core anchor but also reflects the spillover effect of warming risk appetite in traditional financial markets onto crypto assets. Although political uncertainty triggered by the US mid-term elections continues to disturb market sentiment, analysts generally believe that Bitcoin has significant recovery potential in the medium to long term, based on historical cycles and current technical patterns. The market is gradually finding a new equilibrium point after short-term volatility. Looking at specific market data and capital flows, the market shows clear signs of a bullish repair. As of 8:19 AM on the 4th, the trading price of Bitcoin on Upbit, a local South Korean digital asset exchange, was 104.85 million KRW, up 1.17% from 9:00 AM the previous day; on Binance, the world's leading trading platform, the price of Bitcoin rose 1.32% compared to 24 hours ago, reaching $77,861. Major altcoins also performed strongly, with Ethereum rising 1.60% to trade at $2,290, and Ripple rising 2.38% to trade at $1.28. Woofun AI on-chain data shows that approximately $52.52 million worth of Bitcoin positions were liquidated in the past 24 hours, of which about 59.1%, or $31.06 million, were long positions. The total amount liquidated across the entire market was approximately $174.45 million, indicating that leverage cleansing has basically ended. This rebound momentum stems directly from the strong performance of the US stock market: the previous day in New York, the Philadelphia Semiconductor Index rose 2.6%, and the NASDAQ-100 index rose 0.7%. Semiconductor stocks, which had been weak due to concerns that large-scale investments by AI companies would lead to declining profits, regained buyer favor as AMD (AMD.US) and server manufacturer Super Micro Computer (SMCI.US) provided revenue forecasts higher than expected. In addition, Meta Platforms (META.US) issued corporate bonds again after six months, successfully raising $15 billion, demonstrating strong investment demand. As US stocks stabilized, Bitcoin broke away from the low of around $76,300 touched on the 30th of last month, rising to near $77,000, with significantly reduced price volatility. However, the key variable determining the short-term market direction remains the political uncertainty brought by the US mid-term elections. If the Democratic Party expands its seats in this election, the current power structure of Congress controlled by the Republican Party may change, thereby limiting various policies promoted by the Trump administration. Market analysis firm Covey Letter pointed out that concerns about AI investment alone are insufficient to explain the recent weakness in US stocks. Potential major changes in the parliamentary power structure have already been reflected in financial markets. The market is incorporating the uncertainty accompanying political change into pricing and reflecting the political deadlock that may persist for the next two years. Meanwhile, the decline in international oil prices is seen as a positive factor in alleviating inflationary pressure. Although the US launched further air strikes on Iran's Qeshm Island, the price of West Texas Intermediate (WTI) crude oil still fell below $94 per barrel, even dropping to $93.59 at one point, marking the lowest level since the 15th of last month, as there is still a possibility for both sides to resolve disputes through diplomatic channels. The geopolitical risk premium did not surge as expected. Unlike the short-term volatility before the mid-term elections, the outlook for Bitcoin's medium-to-long-term trend appears more optimistic. Currently, the Bitcoin price is above the 200-day moving average, which is around $73,169. In contrast, during the mid-term elections in 2014, 2018, and 2022, Bitcoin prices were 35%, 9%, and 22% below the 200-day moving average, respectively, in long-term downward trends. This year, the price pattern has undergone a fundamental reversal. Historical data further supports this view: in the months following the aforementioned three elections, although Bitcoin experienced volatility or slight declines, its price increased 12 months after election day. Martin Lee, Head of Research at DWF Labs, stated that while historical trends suggest Bitcoin is poised to strengthen over the next 12 months, caution is needed in the short term. He warned that if wars intensify or investment sentiment in AI-related sectors deteriorates, it could put pressure on risk assets, leading to increased short-term volatility. This marks another critical node where the market faces the resonance of political and technical factors, following the previous election cycle. ### Related Stocks - [AMD.US](https://longbridge.com/en/quote/AMD.US.md) - [META.US](https://longbridge.com/en/quote/META.US.md) - [SMCI.US](https://longbridge.com/en/quote/SMCI.US.md) - [AMDC.US](https://longbridge.com/en/quote/AMDC.US.md) - [AMDD.US](https://longbridge.com/en/quote/AMDD.US.md) - [AMDG.US](https://longbridge.com/en/quote/AMDG.US.md) - [AMDL.US](https://longbridge.com/en/quote/AMDL.US.md) - [AMDS.US](https://longbridge.com/en/quote/AMDS.US.md) - [AMDU.US](https://longbridge.com/en/quote/AMDU.US.md) - [AMDW.US](https://longbridge.com/en/quote/AMDW.US.md) - [AMDY.US](https://longbridge.com/en/quote/AMDY.US.md) - [AMUU.US](https://longbridge.com/en/quote/AMUU.US.md) - [AMYY.US](https://longbridge.com/en/quote/AMYY.US.md) - [DAMD.US](https://longbridge.com/en/quote/DAMD.US.md) - [FBL.US](https://longbridge.com/en/quote/FBL.US.md) - [FBX.US](https://longbridge.com/en/quote/FBX.US.md) - [FBY.US](https://longbridge.com/en/quote/FBY.US.md) - [FBYY.US](https://longbridge.com/en/quote/FBYY.US.md) - [IQQ.US](https://longbridge.com/en/quote/IQQ.US.md) - [MEIB.US](https://longbridge.com/en/quote/MEIB.US.md) - [METD.US](https://longbridge.com/en/quote/METD.US.md) - [METG.US](https://longbridge.com/en/quote/METG.US.md) - [METQ.US](https://longbridge.com/en/quote/METQ.US.md) - [METU.US](https://longbridge.com/en/quote/METU.US.md) - [METW.US](https://longbridge.com/en/quote/METW.US.md) - [PSQ.US](https://longbridge.com/en/quote/PSQ.US.md) - [QID.US](https://longbridge.com/en/quote/QID.US.md) - [QLD.US](https://longbridge.com/en/quote/QLD.US.md) - [QNDX.US](https://longbridge.com/en/quote/QNDX.US.md) - [QQEW.US](https://longbridge.com/en/quote/QQEW.US.md) - [QQQ.US](https://longbridge.com/en/quote/QQQ.US.md) - [QQQE.US](https://longbridge.com/en/quote/QQQE.US.md) - [QQQM.US](https://longbridge.com/en/quote/QQQM.US.md) - [SCA.US](https://longbridge.com/en/quote/SCA.US.md) - [SMCC.US](https://longbridge.com/en/quote/SMCC.US.md) - [SMCL.US](https://longbridge.com/en/quote/SMCL.US.md) - [SMCX.US](https://longbridge.com/en/quote/SMCX.US.md) - [SMCY.US](https://longbridge.com/en/quote/SMCY.US.md) - [SMCZ.US](https://longbridge.com/en/quote/SMCZ.US.md) - [SMYY.US](https://longbridge.com/en/quote/SMYY.US.md) - [SQQQ.US](https://longbridge.com/en/quote/SQQQ.US.md) - [TQQQ.US](https://longbridge.com/en/quote/TQQQ.US.md) - [.NDX.US](https://longbridge.com/en/quote/.NDX.US.md) ## Related News & Research - [Meta’s warns that election backlash against data centers could make AI expansion harder](https://longbridge.com/en/news/304515371.md) - [S&P cuts Meta’s outlook to negative](https://longbridge.com/en/news/303862927.md) - [Despite Strong Revenue Growth and a Cheap Valuation, Supermicro Stock Is Still Not a Buy](https://longbridge.com/en/news/304636271.md) - [Super Micro's AI Business Is Booming, but One Customer Accounts for Stunning 44% of Sale](https://longbridge.com/en/news/304267829.md) - [AMD Is a 'Top Pick': TD Cowen Sees Strong AI Momentum After Q3 Beat and Raise](https://longbridge.com/en/news/304264552.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**