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.
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