TechFlow reports that Matrixport, a Singapore-based cryptocurrency financial services firm under Wu Jihan, said the funding rate for Bitcoin futures is unusually high, indicating many traders are panic-buying Bitcoin as FOMO sentiment returns. Bitcoin's market dominance has reached 52.1%, and trading volume surged to $29 billion over the past 24 hours.
Matrixport stated it had set its year-end 2023 Bitcoin price target at $45,000 earlier this year.
Previously, on September 20, Matrixport reported that October would be an exceptionally strong month for Bitcoin, highlighting an average historical return of 20% for the month.
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