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

CryptoQuant founder Ki Young Ju (@ki_young_ju) stated on X that year-to-date net inflows into Bitcoin spot ETFs have been near zero, yet the year-to-date drawdown for BTC is only around 7%. Given weak ETF demand and resilient prices, it is unlikely that early whales or miners will execute large-scale sell-offs, as holders looking to exit may have already done so. He anticipates that once the uncertainty surrounding the U.S. midterm elections subsides and ETF capital flows resume, bullish market momentum will likely return. He also shared a CryptoQuant chart depicting Bitcoin ETF annual holdings.