The U.S. midterm elections on November 3rd could mark a turning point for Bitcoin based on historical patterns observed in previous cycles. Bitcoin tends to bottom just before or shortly after these elections before entering a year-long rally. On-chain data shows realized profit crossing below realized loss, a signal historically associated with the start of an uptrend, with Bitcoin currently trading between $62,000 and $65,000. However, U.S. investors remain cautious with monthly netflows among the lowest ever recorded, around $204.67 million in July.
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