Bitget Research Chief Analyst Ryan Lee stated that Bitcoin is currently in a phase of insufficient holiday liquidity. Therefore, after Christmas, market liquidity will recover, and Bitcoin is expected to possibly break through $105,000 again.
With the arrival of Christmas, the market initially expected investors to temporarily withdraw and continue to fluctuate at low points. However, possibly due to institutions or whales seizing the opportunity to accumulate, Bitcoin briefly reached $99,968 at 8 AM today, extremely close to the $100,000 mark.
At the time of writing, there is a slight drop, currently reported at $98,757. Whether it will continue to rise or has already reached a peak and will continue to fluctuate remains to be seen.
Analyst: Bitcoin liquidity will recover after Christmas.
In this regard, Bitget Research Chief Analyst Ryan Lee recently stated that Bitcoin is currently in a phase of insufficient holiday liquidity. Therefore, after Christmas, market liquidity will recover, and Bitcoin may once again break through $105,000.
After Christmas, market liquidity typically rises again, and funds are expected to actively position in industries that will benefit from Trump's formal inauguration. The price range for Bitcoin is expected to be between $94,000 and $105,000.
Meanwhile, on Binance, the funding rate for Bitcoin perpetual contract products shows a positive trend, indicating that the overall market still leans towards being bullish on Bitcoin. Analysts believe this could also be a significant bullish signal.
However, it is noteworthy that as one of the key factors supporting Bitcoin liquidity—the spot ETF products—have seen a net outflow of funds for four consecutive days, totaling approximately 15,500 BTC as of December 24.
Bitcoin spot ETF inflow and outflow data. Source: Coinglass.
The six-tier Bitcoin mutual fund will be listed in Israel on 12/31.
Additionally, it is worth mentioning that according to CoinDesk, the six-tier mutual fund tracking Bitcoin prices has received approval from the Israel Securities Authority (ISA) last week and is expected to officially list for trading on December 31, providing investors with more diverse entry points for BTC.
It is understood that these six Bitcoin mutual funds are issued by Migdal Capital Markets, More, Ayalon, Phoenix Investment, Meitav, and IBI. However, according to insiders, these funds will initially only trade once a day and will open for continuous trading in the future.
