Strategy just released its Q2 2026 earnings report, noting an $8.22 billion unrealized net loss as Bitcoin (BTC) traded near $65,000, well below the average cost basis of $75,476. This massively exceeded Wall Street projections of $2.15 billion. Headwinds during this time included economic downturns, geopolitical conflict, and lower product support revenues.
The Central Bank of Brazil reported that demand for cryptocurrency assets, including bitcoin, ether, and stablecoins, reached over $14 billion during the first half of 2026. This represents a 135% increase over H1 2025, indicating continued demand expansion.
Bitcoin has historically entered bearish phases approximately one year prior to each US legislative election. A Binance Research report notes that the asset dropped an average of 56% during completed midterm cycles since 2014. Previous presidential elections showed a different behavior, with sharp rallies following candidates' victories.