PANews reported on December 30 that according to Matrixport data, Bitcoin is currently digesting the recent surge over the past few weeks, with its open interest increasing from $18 billion in October to $29 billion, a rise of 50%. Meanwhile, the funding rate for Bitcoin has skyrocketed from 10% to a high of 80%. Historical data shows that after such rapid positioning, there is usually a brief consolidation period, after which the bull market may continue.
Analysts believe that this pattern may occur again, especially during the Christmas holiday period when market trading is light. Investors are looking towards the new year, hoping for new capital inflows to further drive up Bitcoin prices.
