CryptoQuant Founder: Bitcoin May Resume Upward Trend After US Midterm Election Uncertainty Fades

TechFlow reports, On October 29, Ki Young Ju (@ki_young_ju), founder of CryptoQuant, posted on X stating that year-to-date net inflows into Bitcoin spot ETFs have been close to zero, yet BTC has declined by only about 7% for the year. Against a backdrop of weak ETF demand and resilient prices, the likelihood of early whales or miners engaging in large-scale selling is low, with holders looking to sell potentially having already done so. He anticipates that once uncertainty surrounding the US midterm elections dissipates and capital resumes flowing into ETFs, bullish momentum in the market is likely to return. He also shared CryptoQuant’s annual Bitcoin ETF holdings chart.