Bitcoin's post-election rebound remains a fragile relief rally rather than a confirmed recovery, according to Utkarsh Ahuja, founder and managing partner of Moon Pursuit Capital. The cryptocurrency briefly reclaimed $80,000 on Wednesday following the U.S. midterm elections but fell back to around $75,000 on Thursday as selling pressure returned. Ahuja attributed the initial gain to relief buying and short covering after elections removed political uncertainty, noting the market may have priced in some probability of a Democratic victory. He cautioned that further weakness in November would not be surprising, though he maintains a constructive long-term outlook. If liquidity improves and institutional demand continues returning, Ahuja projects Bitcoin could reach the $120,000–$150,000 range by end of 2027. Key confirmation signals for a sustained recovery include spot buying activity, inflows into Bitcoin ETFs, and whether Bitcoin can recover lost ground and hold it during pullbacks. Ahuja added that Democratic control of Congress could delay or reshape legislation such as the Clarity Act, but global liquidity, interest rates, and institutional demand remain more critical to Bitcoin's long-term trajectory.