Matrixport released a chart today stating that Bitcoin is currently digesting the recent surge over the past few weeks. During this period, the open interest in futures skyrocketed from $18 billion in October to $29 billion, an increase of 50%. Meanwhile, the funding rate for Bitcoin surged from over 10% to a peak of over 80%. Historical data shows that after such rapid accumulation, there is usually a brief consolidation period, after which the bull market may continue.

This pattern may emerge again, especially during the holidays when trading volume tends to be lighter. Traders are now looking ahead to the new year, hoping for new capital inflows to drive prices up and reignite the upward momentum.