Matrixport: The Bitcoin funding rate has soared to 37%, reaching its highest level since March 2024
Matrixport released a daily chart, indicating that the Bitcoin funding rate has soared to 37%, reaching its highest level since March 2024, showing a widespread bullish sentiment in the market. The futures position also increased significantly from $16 billion in September to $28 billion.
Given that Trump's inauguration will be held on January 20, 2025, the market has plenty of time to maintain this bullish momentum. Matrixport had predicted an end-of-year target of $100,000 in its "Matrix on Target" report in October; this milestone may be achieved ahead of schedule.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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