The cryptocurrency was unable to sustain the "Santa Claus rally" that started in the American stock market, notes Bloomberg. However, according to some investors, there is potential for further growth of the cryptocurrency, judging by trends in the futures market, as analysts indicate.
During today's trading, Bitcoin showed a maximum price of $90,378.3, but by 15:44 Moscow time, its value had decreased to $87,313, marking a decline of 0.6 percent.
According to Sebastian Bea, Chief Investment Officer of the cryptocurrency treasury company ReserveOne, the rise in Bitcoin today is linked to the activity of retail traders who are increasing their positions in futures. Data from CryptoQuant shows that the funding rate for Bitcoin has reached its highest point since October 18, which is an important indicator of market sentiment and suggests that investors expect growth, Bloomberg reports.
