Update
CryptoQuant CEO on Bitcoin Post-Midterm Elections Outlook
CryptoQuant CEO Ki Young Ju suggests that the US midterm elections may provide a clearer short-term direction for Bitcoin, which has dropped below $77,000. He notes that ETF outflows and tech stock weakness have contributed to the recent downturn, but that heavy selling from early investors and miners has subsided. The Guppy Multiple Moving Average (GMMA) has also turned bearish, and institutional demand for Bitcoin ETFs has not yet turned into buying pressure. Despite these factors, past price history gives reason for optimism, according to Ju.