According to CoinDesk, analysts have different opinions on Bitcoin breaking through the market trend. Mati Greenspan, founder of Quantum Economics, believes that the trend of Bitcoin is similar to its historical bottom, and the probability of a significant pullback has decreased. AdLunam co-founder Jason Fernandez stated that it is impossible to confirm the end of the bear market in the absence of inflows of spot ETF funds and signals of interest rate cuts. Bitcoin previously fluctuated in the range of $64000 to $66000, and after breaking through, it triggered liquidation in the derivatives market. TBV co-founder Tobias Bauer pointed out that the trading volume of Bitcoin futures in Binance reached 1.26 billion US dollars within one minute, 361 times the normal level, and the funding rate rose to the upper limit, causing a crowded market with leveraged bulls.
