Spot Bitcoin ETFs in the United States are on track to acquire their one-millionth Bitcoin this week, with traders anticipating favorable conditions in November, including the US election and potential interest rate cuts from the Federal Reserve. Currently, US spot Bitcoin ETF issuers hold 976,893 BTC, valued at over $66.2 billion, representing nearly 5% of Bitcoin's total market cap of $1.34 trillion. To reach the milestone of 1 million Bitcoins, an additional 23,107 BTC is needed, requiring $1.55 billion in net inflows, or approximately $301 million daily this week. Previous patterns suggest that Bitcoin has surged after halving events and notable political outcomes, fueling hopes for a price rally. Analysts predict Bitcoin could soar to $100,000 if Donald Trump wins the election, significantly impacting market momentum. Meanwhile, the forthcoming Federal Open Market Committee meeting on November 6-7 presents a 94.7% chance of a 25 basis point rate cut, which could positively influence market conditions. Confirmation of additional adoption is seen through academic institutions investing in Bitcoin, indicative of growing institutional interest.

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