ChainCatcher message, Matrixport released today's chart stating 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, a key support level that is expected to stabilize the market. With the Thanksgiving holiday approaching, Bitcoin's astonishing gain of +119% so far this year is bound to become a hot topic at holiday tables.
It is even more noteworthy that Bitcoin is expected to once again be the best-performing asset of the year. The highlight of this round of increase lies in traditional financial (TradFi) investors amplifying their positions through ETFs. Looking forward to 2025, more institutional funds may pour in, further solidifying Bitcoin's strong upward momentum and strengthening its long-term bullish outlook.
