Bitcoin Could Tie for Third-Longest Losing Streak With Fifth Weekly Loss

Bitcoin (BTC) was on pace to close lower for a fifth consecutive week Tuesday, a result that would tie for the cryptocurrency’s third-longest weekly losing streak.

Bitcoin traded at $77,255 at 9:46 a.m. ET (14:46 UTC) Tuesday, down 0.71% over 24 hours. Over five weeks, BTC fell from about $87,000 to roughly $76,500, a decline of about 12%. The move unfolded as a gradual slide rather than a single sharp drop.

Only two longer weekly losing runs are on record: eight weeks in 2022 and six weeks early in 2026. A fifth weekly loss would leave the current run one week short of the six-week streak and three weeks short of the eight-week run. The decline’s length stands out, though its roughly 12% drop has been relatively moderate.

The U.S. midterm elections are taking place Tuesday. Their outcome will shape control of Congress and could affect pending digital-asset legislation and regulatory policy, putting crypto policy among the issues connected to the vote.

Oil prices have also swung. West Texas Intermediate crude settled at $96.46 Monday after falling 7.36%, then rebounded about 2% to near $98 in Tuesday trading. Brent crude moved back above $106. The swings add uncertainty to inflation expectations.

Apple reported fiscal fourth-quarter revenue of $114.5 billion, up 12% from a year earlier, and earnings per share of $2.10, up 14%. Revenue for the quarter and full fiscal year set records, and the company’s results beat expectations. Apple warned that steep memory-chip price increases and higher costs for AI services could pressure gross margins.

The next focal points are the midterm election outcome and a U.S. jobs report due later this week.