Matrixport released today's chart saying that currently, bitcoin is digesting the rally of the past few weeks. During this time, the futures unpositioned squaring contract has surged from $18 billion in October to $29 billion, an increase of 50%. At the same time, bitcoin funding rates have soared from 10% + to a peak of 80% +. Historical data shows that this rapid position building is usually followed by a short period of consolidation, after which the bull market may continue.
The pattern could resurface, especially as trading volumes are light over the Christmas holidays, with traders now looking to the new year for fresh inflows to drive prices higher and reignite the rally.
Matrixport: Bitcoin is in a period of consolidation, and 2025 may reignite the rally
2024-12-30 07:09:35
Matrixport release today chart says currently bitcoin digest weeksdesk3cryptocurrencydesktopCrypto News
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