Matrixport: Bitcoin is digesting the gains of the past few weeks, and after a consolidation period, the bull market may continue

ChainCatcher news, Matrixport released a daily chart stating that currently, Bitcoin is digesting the surge of the past few weeks. During this period, the open interest in futures skyrocketed from $18 billion in October to $29 billion, an increase of 50%. Meanwhile, the funding rate in the Bitcoin market surged 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 occur again, especially during the quieter trading volume of the Christmas holiday. Traders are now looking towards the new year, anticipating whether new capital inflows will drive prices up and reignite the upward momentum.