TechFlow reported, on December 30, Matrixport released a chart indicating that Bitcoin is currently digesting the recent weeks' surge in price. During this period, futures open interest has surged from $18 billion in October to $29 billion, an increase of 50%. At the same time, Bitcoin funding rates have skyrocketed from over 10% to a peak above 80%. Historical data shows that after such rapid position buildup, there is typically a brief consolidation phase before the bull market potentially resumes.
This pattern could reappear, especially given the relatively thin trading volume during the Christmas holiday period. Traders are now looking ahead to the new year, watching for potential fresh capital inflows that might drive prices higher and reignite the upward momentum.
