With the arrival of Christmas, the market originally expected investors to temporarily step back and continue to oscillate at low points, but perhaps institutions or whales took the opportunity to accumulate, as 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 retreat, currently reported at $98,757. Whether it will continue to rise in the future, or has already reached a phase high and will continue to oscillate, remains to be observed.
Analyst: Bitcoin liquidity will recover after Christmas
In this regard, Ryan Lee, the chief analyst at Bitget Research, recently stated that Bitcoin is currently in a phase of insufficient liquidity during the holidays, so after Christmas, market liquidity will recover, and Bitcoin may break through $105,000 again:
After Christmas, market liquidity is expected to rise again, and funds are expected to actively position themselves in industries that will benefit from Trump's formal inauguration. The price of Bitcoin is expected to range between $94,000 and $105,000.
At the same time, on Binance, the funding rate for Bitcoin perpetual contract products is showing positive, indicating that the market overall still leans bullish on Bitcoin, and analysts believe this could also be a significant bullish signal.
However, it is noteworthy that one of the key factors supporting Bitcoin liquidity—the 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 list in Israel on 12/31
Additionally, it is worth mentioning that according to CoinDesk, six Bitcoin price-tracking mutual funds have received approval from the Israel 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 sources, initially these funds will only trade once a day, and will open for continuous trading in the future.
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