Bitcoin surpasses $80,000 after election... trading around $75,000 on the 9th

Bitcoin briefly broke above $80,000 following the U.S. midterm elections before retreating to around $75,000 on Monday, according to Glassnode’s Sept. 9 market report. The pullback came after BTC gave back its post-election gains, with the token trading near $75,000 on the following day. Block Scholes noted that in the prior three midterm cycles, bitcoin’s cyclical low arrived only after voting—71 days later in 2014, 39 days in 2018 and 13 days in 2022—while this year’s pattern has diverged. CoinGlass daily close data put 2025’s lowest close at $58,558.90 on June 30. The episode matters because it tests whether the historical post-election drawdown pattern still holds for BTC, and traders will watch whether the $75,000 area holds as support or gives way to a deeper retracement.