With the arrival of Christmas, Bitcoin was originally expected to see investors temporarily exit the market and continue to fluctuate at low points. However, perhaps due to institutions or whales taking the opportunity to accumulate, Bitcoin reached $99,968 this morning at 8 AM, extremely close to the $100,000 mark.
As of the time of writing, there has been a slight pullback, currently reported at $98,757. Whether it will continue to rise or has already reached a temporary high and will continue to fluctuate remains to be seen.
Analysts: Bitcoin liquidity will recover after Christmas
In this regard, Ryan Lee, Chief Analyst at Bitget Research, recently stated that Bitcoin is currently in a phase of insufficient holiday liquidity. Therefore, after Christmas, market liquidity will be restored, and it is expected that Bitcoin may once again break through $105,000.
After Christmas, market liquidity usually rises again, and funds are expected to actively position themselves in sectors positively impacted by Trump's formal inauguration. It is anticipated that the price range for Bitcoin will be between $94,000 and $105,000.
At the same time, on the Binance exchange, the funding rate for Bitcoin's perpetual contract products is showing positive, indicating that the market overall still tends to be bullish on Bitcoin. Analysts believe this may also be a significant bullish signal.
However, it is worth noting that one of the key factors supporting Bitcoin's liquidity—spot ETF products—has seen a net outflow of funds for four consecutive days as of December 24, totaling approximately 15,500 BTC.
Six Bitcoin mutual funds will be listed in Israel on 12/31.
Additionally, it is worth mentioning that according to (CoinDesk) reports, the six mutual funds tracking Bitcoin prices have received approval from the Israeli Securities Authority (ISA) last week and are expected to officially list for trading on December 31, providing investors with more diversified channels to acquire BTC.
It is understood that these six Bitcoin mutual funds are issued by Migdal Capital Markets, More, Ayalon, Phoenix Investment, Meitav, and IBI. However, according to insiders, initially these funds will only trade once a day, and continuous trading will be opened in the future.