Matrixport: Demand for Spot ETFs and the U.S. Election May Drive a Year-End Bitcoin Rebound

News on October 29, Matrixport released a new report stating: "Bitcoin has broken through the $70,000 mark, reaching our year-end target set at the beginning of 2024. According to the latest 'Matrix on Target' report, we expect that Bitcoin prices may rise further before the end of the year. The U.S. presidential election could be a positive market catalyst, coupled with strong demand from investors for Bitcoin spot ETFs, which will further push up Bitcoin prices. As more and more bullish investors disclose their holdings in Bitcoin spot ETFs in upcoming 13F filings, this could inject more momentum into a year-end rebound for Bitcoin."