The Coinbase Premium Index failed to support the recent price increase, leading to a pullback. We are currently in the negative zone, but there is an expectation of a breakout to continue the rise.
The funding rate is decreasing, which is a positive signal for the bull market.
The percentage of open interest has been increasing in recent days. A decrease in the funding rate and an increase in open interest indicate the opening of short positions. An increase in open interest when the price falls also indicates this.
The price is expected to move sideways during the Christmas week, after which a distributional movement will begin.