TechFlow reported on November 12 that Matrixport released a daily chart indicating Bitcoin funding rates have surged to 37%, the highest level since March 2024, reflecting widespread bullish sentiment in the market. Futures open interest has also significantly increased from $16 billion in September to $28 billion.
Given that Donald Trump's inauguration is scheduled for January 20, 2025, the market has ample time to sustain this bullish momentum. In its October "Matrix on Target" report, Matrixport projected a year-end target of $100,000, a milestone that may now be reached earlier than expected.
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