Bitcoin $93,746.2 The recent decline in its price has led to concerns about the future among investors. This situation affected the performance of other top cryptocurrencies as well as Bitcoin.
Matrixport’s Annual Trend Analysis
Leading crypto research firm Matrixport stated that the Bitcoin price may make a breakout in the new year. In its statement on the X platform, the company drew attention to the strong rise of Bitcoin in recent months and the subsequent consolidation period.
“Bitcoin is digesting the enthusiasm of the last few weeks,” wrote Matrixport, emphasizing that low trading volume during the holiday season could be a sign of a temporary pause. Investors expect the market to become active again as 2025 approaches.
Matrixport stated that Bitcoin Futures Open Interest increased from $18 billion in October to $29 billion in December. During this period, a significant increase in financing rates was also observed.
Expert Opinions and Market Expectations
While some experts remain cautious about short-term declines, they believe that cryptocurrencies will perform strongly in the long term. Peter Brandt suggested that Bitcoin could reach $108 thousand again in the future.
“Bitcoin may experience a strong rise in the new year, in line with past trends.” – Brandt.
Matrixport focused on the factors that support Bitcoin’s long-term positive outlook. Increasing interest and adoption in crypto assets strengthens bullish expectations for the new year.
Despite recent fluctuations, many analysts think the market is in a natural cycle. The new year may present an opportunity for a revival for Bitcoin and other cryptocurrencies.
These developments in Bitcoin price carry important signals for investors. Especially the increase in futures transactions reflects the market’s future expectations.
This activity in the crypto market may be an opportunity for investors to review their strategies. Bitcoin’s performance can also influence overall crypto market trends.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
