Bitcoin’s rebound following the US midterm elections remains a fragile relief rally rather than a confirmed recovery, according to Utkarsh Ahuja, founder and managing partner at Moon Pursuit Capital, who sees a potential path toward $150,000 by the end of 2027.
In a written interview with Crypto Briefing, Ahuja said Wednesday’s rally reflected relief buying, short covering and improved sentiment after the election removed some political uncertainty. However, the recovery quickly reversed Thursday as selling pressure returned across crypto and traditional financial markets.
Bitcoin briefly reclaimed $80,000 on Wednesday before falling toward $75,000 on Thursday, as more than $1 billion in leveraged crypto positions were liquidated, according to CoinGlass data reported by CoinDesk.
