# HTX Research Sees Volatility and Diverging Crypto Assets Ahead of Midterms By Enna Lee Canonical URL: https://www.tokenpost.com/news/investing/39501 Published: 2026-10-24T01:21:54.000Z Updated: 2026-10-24T01:21:54.000Z Section: Investing > The outlook gives inflation, financing costs and capital flows more weight than election narratives; its Bitcoin (BTC) and Ether (ETH) ETF snapshot ends Oct. 14. HTX Research expects choppy crypto trading before and after the Nov. 3 U.S. midterm elections, saying a change in congressional control may shift policy expectations without, by itself, sustaining a market rally. HTX Research, the exchange’s research arm, published its outlook Oct. 23. The report’s information cutoff was Oct. 15, and its exchange-traded fund figures run through Oct. 14. HTX Research’s base case is continued volatility, repeated repricing and different performance across assets. It says a lasting advance would require monetary-tightening expectations to stabilize, spot-market inflows to return and policy changes to create commercial opportunities. HTX Research says inflation, financing costs and capital flows are more immediate influences on near-term crypto prices than election narratives. Its outlook does not assign numerical odds to election outcomes or set price targets. The macroeconomic backdrop includes the Fed’s Sept. 16 rate increase, which brought its target range to 3.75% to 4.00%. September consumer prices rose 0.6% from August and 3.7% from a year earlier. Core prices rose 0.3% month over month and 2.6% year over year. U.S. spot Bitcoin ETFs recorded $537.4 million in net outflows from Oct. 1-14, while Ether ETFs had $825.1 million in outflows. Together, the funds saw $1.3625 billion in net outflows during that period. Flows shifted after the report’s ETF cutoff. Bitcoin ETFs had $361.8 million in net inflows from Oct. 15-22, including $526.7 million on Oct. 19 and $524.8 million on Oct. 21, before $635.6 million in net outflows on Oct. 22. The reversal followed a [three-session ETF inflow]() earlier in the period. Across Oct. 1-22, Bitcoin ETFs remained $175.6 million in net outflows. Ether ETFs recorded $355.1 million in outflows from Oct. 15-22, bringing their net outflows for Oct. 1-22 to $1.1802 billion. The midterm elections will determine control of Congress for the next two years. All 435 House seats and about one-third of Senate seats are contested. A change in control may affect committee leadership, oversight and legislative priorities, while lawmakers can hold different views on crypto policy. The Federal Open Market Committee is scheduled to meet Oct. 27-28, before Election Day. ## Links in this article - [three-session ETF inflow](https://www.tokenpost.com/news/investing/39283)