Copper analyst: The market may be at a temporary peak before the US election
BlockBeats news, on October 24th, the analysis of data on the Bitcoin chain in this week's Copper Opening Bell report showed that 98% of short-term holders' wallet addresses are now profitable. From a historical perspective, when this proportion significantly increases, investors often seek to lock in profits, leading to selling pressure. According to Copper analysts, this may indicate that the market is experiencing a temporary peak before the US election. Copper analysts also pointed out that despite the large influx of funds into spot Bitcoin ETFs, overall enthusiasm remains sluggish. As of mid October, the cumulative net inflow of spot Bitcoin ETFs has exceeded $21 billion. However, after seven consecutive days of positive net inflows, ETF activity reversed on Tuesday, with inflows once again negative.