Matrixport: BTC experienced a pullback, the $89,000-90,000 range is the key support level
2024-11-27 07:09
Odaily News Matrixport released today's chart saying that Bitcoin funding rates continue to rise. Although BTC is undergoing a typical market adjustment, leveraged traders are still confident about the future market. From a technical point of view, prices may pull back to the $89,000-90,000 range, and this key support level is expected to stabilize the market. With the Thanksgiving holiday approaching, Bitcoin's amazing increase of +119% so far this year is bound to become a hot topic on the holiday table. More noteworthy is that Bitcoin is expected to once again win the title of the best performing asset of the year. The highlight of this round of gains is that traditional financial (TradFi) investors have increased their investment through ETF layouts. Looking ahead to 2025, more institutional funds may flow in, further consolidating Bitcoin's strong upward momentum and strengthening its long-term bullish expectations.
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