*🚀 Bitcoin: Still the Best-Performing Asset After Weak Q3:🚀*
Despite a "seasonally weak" Q3, Bitcoin remains the best-performing asset of the year, boasting a 49.2% year-to-date gain. 📊 Key factors behind this performance include demand from U.S. spot ETFs and increased corporate ownership by firms like MicroStrategy and Marathon Digital. The upcoming U.S. election is expected to play a significant role in market movements for Q4, with predictions suggesting a bullish period ahead. 🗳️This growth is remarkable, considering the significant sales of Bitcoin by the US and German governments, which put pressure on the market.✅
Several factors contributed to Bitcoin's resilience, including:
- Increased Demand from US Spot Exchange-Traded Funds (ETFs): $4.3 billion in total flows for Q3
- Corporate Ownership: MicroStrategy, Marathon Digital, and Metaplanet have all increased their Bitcoin holdings
- Global Monetary Easing: The Federal Reserve's interest rate cuts and China's central bank stimulus measures
Looking ahead, NYDIG's research head, Greg Cipolaro, expects the US election on November 5 to impact market performance. If Donald Trump wins, Cipolaro predicts significant gains for Bitcoin. Historically, Q4 has been a bullish period for Bitcoin, and with these catalysts, it's likely to remain a top-performing asset.