Following the midterm elections, Bitcoin fell below $75,000, returning to its price level when Trump won the election in 2024. Has it bottomed out? Those bearish believe that with no growth in the total supply of stablecoins and continued outflows from ETFs, this round of decline is not over and will likely continue for at least another six months. Those bullish, however, believe that Bitcoin's pullback has exceeded 50% and has lasted nearly a year, suggesting a potential rebound next year, potentially even outperforming the Nasdaq. With the Democrats controlling Congress, the next two years may see "the White House continuing to loosen restrictions while Congress aggressively investigates," with the Trump family's projects and Circle likely facing the greatest pressure.