Ryan Lee, chief analyst at Bitget Research, stated that Bitcoin is currently in a phase of low holiday liquidity, so after Christmas, market liquidity will be restored, and Bitcoin may break through $105,000 again.
With the arrival of Christmas, the market originally expected investors to temporarily leave and continue to oscillate at low points. However, it seems that some institutions or whales took the opportunity to accumulate, with Bitcoin reaching $99,968 at 8 AM this morning, extremely close to the $100,000 mark.
As of the time of writing, there has been a slight decline, currently reported at $98,757. Whether it will continue to rise in the future or has already reached a stage high point and will continue to oscillate remains to be seen.
Analyst: 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 low holiday liquidity, so after Christmas, market liquidity will be restored, and Bitcoin may break through $105,000 again.
After Christmas, market liquidity typically rises again, and it is expected that funds will actively position in industries that will benefit from Trump's official inauguration. The price range for Bitcoin is expected to be between $94,000 and $105,000.
At the same time, on Binance exchange, the perpetual contract funding rate for Bitcoin shows a positive value, indicating that the market overall still tends to be bullish on Bitcoin, and analysts believe this could also be a significant bullish signal.
However, it is worth noting that one of the key factors supporting Bitcoin liquidity - spot ETF products - has experienced a net outflow of funds for four consecutive days as of December 24, totaling approximately 15,500 BTC.
Bitcoin spot ETF inflow and outflow data. Source: Coinglass
Six Bitcoin mutual funds will be listed in Israel on 12/31
Additionally, it is worth mentioning that, according to CoinDesk, the six mutual funds tracking Bitcoin prices have already received approval from the Israeli Securities Authority (ISA) last week and are expected to officially begin trading on December 31, providing investors with more diverse 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, these funds will initially only trade once a day and will open for continuous trading in the future.
