Matrixport: The Bitcoin funding rate has soared to 37%, reaching its highest level since March 2024

Matrixport released a daily chart, indicating that the Bitcoin funding rate has soared to 37%, reaching its highest level since March 2024, showing a widespread bullish sentiment in the market. The futures position also increased significantly from $16 billion in September to $28 billion.

Given that Trump's inauguration will be held on January 20, 2025, the market has plenty of time to maintain this bullish momentum. Matrixport had predicted an end-of-year target of $100,000 in its "Matrix on Target" report in October; this milestone may be achieved ahead of schedule.