Matrixport: Spot ETF demand and the US election may drive a year-end Bitcoin rebound
On October 29th, Matrixport released the latest report stating that "Bitcoin has surpassed the $70,000 mark, reaching our year-end target set for early 2024. According to the latest 'Matrix on Target' report, we expect Bitcoin prices to possibly rise further before the end of the year. The US presidential election may become a positive market catalyst, and the strong demand from investors for Bitcoin spot ETFs will further push up the price of Bitcoin. As more and more bullish investors disclose their Bitcoin spot ETF holdings in the upcoming 13F filings, this may inject more momentum into the Bitcoin rebound at the end of the year."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Gaming tokens hit in Trump tariffs fallout after Deadrop shutdown
Price data shows most gaming tokens have had a rough week
Tech stocks lead US rebound, but still lag behind global names
We’re about a third of the way into earnings season and results have been fairly solid
Understanding the Significance of ETH/BTC Ratio Approaching a Critical Level
Decoding Market Signals: Unfavorable Trends and Technical Indicators Highlight Potential Downside Risk as 77% of ETH/BTC Trading Days Prove Unprofitable
New Initiative on Cryptocurrencies Introduced in the US – Will It Pass This Time?
Trending news
MoreCrypto prices
More
