CryptoQuant’s 3 charts keeping Bitcoin’s ‘Uptober’ thesis valid
Summary
CryptoQuant analysis suggests Bitcoin may have formed a local price bottom in October. Exchange reserves fell 1.7% from Sept. 20 to 2.68 million BTC, whale holdings stayed above 3 million BTC despite a price decline, and apparent demand recovered toward neutral. The analysis cites easing rate-hike expectations and reduced political uncertainty as possible support for risk assets, but says confirmation would require sustained ETF inflows, stronger U.S. spot buying and continued demand recovery. A bottom would not necessarily mean uninterrupted gains.
