Before tomorrow’s U.S. midterm elections, Kalshi assesses the Democrats’ chance of gaining control of the House of Representatives at 93.6%. Bitcoin: native closed the fourth quarter in decline in each of the last three U.S. midterm election years—losing 17.3% in 2014, 43.5% in 2018, and 14.8% in 2022. All three periods coincided with Bitcoin’s bear markets. The upcoming U.S. midterm elections will determine control of Congress. Donald Trump has stated that if the Democrats gain control of Congress, he will use his veto power.

Goldman Sachs expects the Fed to raise interest rates in December. Goldman Sachs Asset Management announced that, following the Fed's decision to hold rates steady at its October meeting, it now expects another rate hike in December.

Microsoft and Alphabet have released their financial results. Microsoft’s ($MSFT) first-quarter revenue of $92.28 billion exceeded the expected $90.63 billion. Alphabet’s ($GOOGL) third-quarter revenue of $127.6 billion fell below the expected $128.22 billion.

What lies ahead for the #cryptocurrency market today? All eyes are on the U.S. Federal Reserve’s interest rate decision. ⏰ 21:00: The Fed will announce its interest rate decision. ⏰ 21:30: Fed Chair Kevin Warsh will hold a press conference. According to CME FedWatch data, there is a 90% probability that rates will be held steady, and a 10% chance of a 25-basis-point increase.

U.S. Treasury Secretary Scott Bessent said digital assets will strengthen the dollar’s global power. Speaking today at Ripple’s Swell conference, Bessent stated that digital assets could enhance the U.S. dollar’s global dominance. “We will be the winners in the digital asset ecosystem.” Bessent also noted that over 90% of stablecoins are backed by the U.S. dollar and emphasized that these assets represent an important source of financing for the U.S. Treasury.

Net inflows of $110 million into spot Bitcoin ETFs, while spot Ethereum ETFs saw net outflows of $89 million on October 26.

Bitcoin mining giant executed a Bitcoin:native transfer. Bitcoin mining company MARA Holdings transferred 1,000 BTC, valued at approximately $80.19 million. The company had previously transferred 996 BTC in October. According to MARA’s most recent official statement, its total Bitcoin holdings stand at 35,577 BTC.

Bitcoin ETFs recorded net inflows after two weeks 📈 During the week of October 19–23, net inflows of $309 million flowed into spot Bitcoin-native ETFs, while spot Ethereum-native ETFs experienced net outflows of $221 million. As a result, Bitcoin ETFs ended the week positive, halting a two-week streak of net outflows.

The New York Attorney General has demanded $1.37 billion from NovaTech founders Cynthia and Eddy Petion due to the alleged #crypto Ponzi scheme. Of this amount, $1.13 billion stems from the return of ill-gotten gains, and $232.5 million from interest. According to court documents, $1.16 billion in cryptocurrency was invested in NovaTech between 2019 and 2023. However, only $25.99 million was used for trading activities, while at least $134.5 million was transferred to the founders’ cryptocurrency wallets. Prosecutors allege that the company promised weekly returns of 2–4% and paid earlier investors using funds from new investors. It is reported that the founders fled the United States after a ruling was issued against them for failing to appear in court in August 2025. Four of the company’s partners have agreed to pay approximately $6 million and be permanently barred from operating in the industry.

Outflows were observed in ETFs 📉 On October 22, net outflows of $635 million occurred from spot Bitcoin:native ETFs, and $111 million from spot Ethereum:native ETFs.