In a recent report from November 12, Matrixport revealed that the Bitcoin funding rate has reached 37%, its highest level since March 2024. This indicates a strong bullish sentiment in the market. Additionally, futures open interest has increased significantly, from US$16 billion in September to US$28 billion.
With Trump’s inauguration taking place on January 20, 2025, there is ample time for the market to continue its bullish momentum. Matrixport’s “Matrix on Target” report released in October predicted a year-end target of $100,000 for Bitcoin, and this milestone could be achieved ahead of schedule.
