Midterms Tuesday, BTC under $77K, HYPE above $90

Its Blue Chip Biweekly Report for October 16-30 argues that a Republican hold on both chambers would read as supportive of the current policy direction and bills like the CLARITY Act, but that the bill has already hit Senate obstacles, so even that outcome guarantees nothing. A Reuters poll from October 26 had Democrats ahead 47% to 36% on the generic ballot, which the report notes does not map neatly onto seats.

The image is the official cover art from the Bitunix blog report.

Bitcoin

• Fell below $77,000 after a major exchange security incident on October 30 added to risk aversion; it had briefly recovered to around $84,000 earlier in the period.
• Spot ETF flows swung: more than $1 billion in from October 20 to 22, a $635 million outflow day, then another three days of inflows from October 26 to 28 that did not turn the trend.
• Strive bought 6,182 BTC for about $510 million at an average of $82,732 and now holds roughly 43,000 BTC.
• The on-chain average cost basis climbed from about $70,000 to nearly $74,800, leaving average unrealized gains near 7%.

Ethereum

• Dropped to $2,200 after stalling near $2,500. Over three weeks it lost about 15%, roughly $54 billion of market value.
• ETH spot ETFs kept bleeding, with more than $100 million out from October 19 to 21 while BTC funds took in money.
• Bitmine added 10,452 ETH and holds about 6.05 million, 4.95% of supply, with around 5.23 million staked.

HYPE

• The outlier: from about $75 on October 25 to above $90 on October 30 after news that ICE, the NYSE's parent, partnered with Trade.xyz.
• HYPE ETFs are small, about $122 million in assets, and saw more than $20 million of outflows over ten trading days.
• A Nasdaq-listed HYPE treasury company (ticker PURR) added 130,000 HYPE, now holds 38.83 million, and raised its buyback authorization to $100 million.
• CryptoQuant's new consensus index shows about 90% of 1,318 HYPE forecasts as bullish.

What the report says to watch: capital flows, large derivatives positions and key price levels. The cleanest of those for BTC is the roughly $74,800 average cost basis; if price leans on it, the 7% cushion is what holders are defending.