Bitcoin accompanied the arrival of Christmas, and the market originally expected investors to temporarily withdraw and continue to fluctuate at low levels, but it may be that institutions or whales took the opportunity to stock up, and Bitcoin once reached $99,968 at 8 o'clock this morning, extremely close to the 100,000 mark.
As of the time of writing, it has retreated slightly, currently reported at $98,757, and whether it will continue to rise or has reached a stage high point and will continue to fluctuate remains to be observed.
Analyst: Bitcoin liquidity will recover after Christmas
In this regard, Ryan Lee, chief analyst at Bitget Research, recently stated that Bitcoin is currently in a stage of insufficient holiday liquidity, so after the end of Christmas, market liquidity will be restored, and Bitcoin is expected to break through $105,000 again:
After Christmas, market liquidity will usually rise again, and funds are expected to actively layout the industries that will be positively affected by Trump's formal inauguration. The expected price range of Bitcoin will be between $94,000 and $105,000.
At the same time, the perpetual contract product funding rate on the Binance exchange shows a positive value, indicating that the market as a whole is still inclined to be bullish on Bitcoin, and the analyst believes this may also be a major bullish signal.
However, it is worth noting that one of the key factors supporting Bitcoin's liquidity - the spot ETF product, as of December 24, has experienced net outflows for 4 consecutive days, totaling about 15,500 BTC.
Six Bitcoin mutual funds to debut in Israel on 12/31
Additionally, it is worth mentioning that according to a report by CoinDesk, six mutual funds tracking the price of Bitcoin have been approved by the Israel Securities Authority (ISA) last week and are expected to be officially listed for trading on December 31, bringing more diverse channels for investors to access BTC.
It is understood that these six Bitcoin mutual funds are issued by Migdal Capital Markets, More, Ayalon, Phoenix Investment, Meitav and IBI, but according to sources, these funds will only trade once a day initially, and will open for continuous trading in the future.
