Analyst Benjamin Cowen's recent analysis indicates that financial markets, including Bitcoin (BTC), gold, and the S&P 500, tend to thrive under divided government rather than full political control. Cowen's examination reveals that Bitcoin's median performance is notably better during periods of political gridlock. For instance, while the Republican sweep resulted in an average gain of 410% for Bitcoin, Democratic control led to an average decline of -2%, largely due to a slump under President Biden's administration. Despite Bitcoin's current downturn of approximately 7% this year, historical midterm averages suggest a potential recovery. Cowen also noted that the S&P 500 has consistently trended upward through various political changes, indicating that market dynamics may be less influenced by short-term political narratives and more by long-term liquidity and market structure. Looking ahead, Cowen suggests that a split Congress in 2027 could be bullish for Bitcoin, although the dataset remains limited due to Bitcoin's relatively short existence.