According to Deep Tide TechFlow news, on December 30, Matrixport released a chart stating that Bitcoin is currently digesting the rally of the past few weeks. During this period, the open interest in futures surged from $18 billion in October to $29 billion, an increase of 50%. Meanwhile, the Bitcoin funding rate skyrocketed from over 10% to a peak of over 80%. Historical data shows that after such rapid positioning, there is usually a brief consolidation period, after which the bull market may continue.
This pattern may reappear, especially during the Christmas holiday when trading volumes tend to be lighter. Traders are now turning their attention to the new year, hoping for new capital inflows to drive prices up and reignite the bull trend.
