Analysts: Bitcoin often experiences pullbacks during the US midterm election cycle; the $73,000 support level should be monitored.

Analyst Ali Charts stated that Bitcoin often experiences pullbacks during the US midterm election cycle, and the key support level of $73,000 should be monitored. Charts pointed out that in the US midterm election cycles of 2010, 2014, 2018, and 2022, Bitcoin experienced pullbacks of 72%, 65%, 52%, and 27%, respectively. $73,000 is close to the average purchase cost of current short-term Bitcoin holders. If post-election selling pressure pushes the price back to this area, it will test the willingness of buyers to maintain the bullish trend.