BTC heads into US midterm showdown: Three things to know in Bitcoin this week

Bitcoin (BTC) held above its 100-day moving average on Monday ahead of US midterm elections, jobs data and earnings from Apple and Palantir.Key points:Kalshi traders put Democrats’ chances of winning control of the House at 93.6% ahead of Tuesday’s US midterm elections.US nonfarm payrolls are forecast to rise by 65,000 in October as markets favor a December Fed rate hike.Bitcoin holds its 100-day moving average as trader Rekt Capital compares its price chart with the 2023 recovery.Midterms follow Bitcoin’s weakest October since 2014Tuesday’s US midterm elections will determine control of Congress, with prediction market traders heavily favoring a Democratic victory in the House of Representatives. Kalshi put the probability of Democrats winning the House at 93.6% as of Monday.President Donald Trump said he would use his veto power if Democrats took control of Congress.“I guess I’ll become Mr Veto. They’ll be sending stuff up. You veto it,” he said, according to the New York Post. US midterm elections odds (screenshot). Source: KalshiBitcoin ended the fourth quarter lower in each of the past three US midterm election years, falling 17.3% in 2014, 43.5% in 2018 and 14.8% in 2022. All...