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Bitcoin ETFs could soon cross 1M BTC as traders expect November tailwinds

U.S. spot Bitcoin ETFs are nearing the milestone of holding one million BTC, driven by recent inflows and anticipated November tailwinds, including potential U.S. interest rate cuts, the presidential election, and Russia’s lifting of its Bitcoin mining ban. ETFs currently hold 976,893 BTC, representing nearly 5% of Bitcoin’s market cap, with $301 million in daily inflows needed to hit the milestone. Analysts suggest that continued inflows and favorable conditions could lead to a new all-time high, with some predicting a surge to $100,000 if Donald Trump wins the U.S. election. Bitcoin remains stable at $67,700, with strong support at $65,000.