Ahuza says Bitcoin has passed its low... forecasts recovery with adjustments

Moon Pursuit Capital founder and managing partner Utkarsh Ahuja said in a Crypto Briefing market commentary on November 3 that bitcoin (BTC) has already passed its cycle low and is in the early stage of a new uptrend, with a gradual recovery accompanied by interim corrections rather than a straight rally. Ahuja argued that the U.S. midterm election outcome alone should not be used to predict price direction, and that investors should instead focus on its impact on liquidity, interest rates and funding costs, warning that political uncertainty and expectations of tighter monetary policy could pressure risk assets. The call matters because it frames the debate around macro liquidity rather than election headlines as the driver for BTC's next leg. What to watch next is whether funding costs and rate expectations ease enough to sustain a recovery, and whether any pullback holds above the claimed cycle low.