Bitcoin's recent rise from $62,000 to $65,000 has caught the attention of the crypto community. According to QCP Capital, approximately $80 million worth of leveraged BTC and ETH positions were liquidated during the surge, raising questions about the rally's causes.

Coincidence or Pattern?

Some attribute the price increase to the extension of the Mt. Gox repayment deadline to October 2025. However, QCP Capital highlights that this information was released last Friday. The timing of the rally is intriguing, occurring three weeks before the US presidential elections, echoing the pattern seen in 2016 and 2020 when Bitcoin showed significant price movements just before the elections.

A New Starting Point?

Despite a less impressive month with Bitcoin only rising by 1.2% compared to its historical average of 21%, QCP Capital believes this rise could mark a turning point. The firm notes that after months of range-bound trading, today's price actions may indicate the market preparing for a repeat of previous election cycles.

What Does This Mean for Investors?

For investors, this is a critical moment. Will Bitcoin's price action mirror the patterns seen during previous US elections, or is this rally merely a short-lived bump? With so much at stake, investors should closely monitor market trends over the coming weeks.

Whether Bitcoin's history will repeat itself remains to be seen. However, the link between elections and price movement is evident, requiring increased market participant attention.