Matrixport: BTC is undergoing a correction, with the $89,000-$90,000 range as a key support level

Odaily Planet Daily reported that Matrixport stated in today's chart that the funding rate for Bitcoin continues to rise. Although BTC is undergoing a typical market correction, leveraged traders remain confident about the future market. From a technical perspective, the price may pull back to the $89,000-$90,000 range, which is a key support level likely to stabilize the market. As the Thanksgiving holiday approaches, Bitcoin's remarkable increase of +119% this year is bound to become a hot topic at holiday tables. What’s more noteworthy is that Bitcoin is expected to once again be the best-performing asset of the year. A highlight of this rally is that traditional financial (TradFi) investors are ramping up their positions through ETFs. Looking ahead to 2025, more institutional funds may flow in, further solidifying Bitcoin's strong upward momentum and reinforcing its long-term bullish outlook.