Bitcoin continues to hit new records, showing steady growth without signs of overheating. Analysts point to fundamental factors contributing to its continued rise.
Fundamentals and investor optimism
Galaxy's research team points out that the market does not appear overheated from a fundamental perspective. Analysts are confident that the post-election environment in the US is contributing to positive momentum in the crypto markets.
Open interest growth amid stable funding rates
Bitcoin's open interest has pushed to new yearly highs while funding rates remain mostly unchanged. This indicates traders' confidence in the continued rise of Bitcoin's price and their willingness to pay a premium to hold positions.
Surpassing previous highs: Trader expectations
Bitcoin is consolidating above its previous all-time high, strengthening expectations for further growth. The US Federal Reserve's rate cut also boosts investor confidence in the appeal of crypto assets.
Analysts and traders continue to express optimistic outlooks about Bitcoin's future growth. The current market conditions support the potential for further strengthening of the cryptocurrency's position.
