Bitcoin Regains $90K With Funding Rates Indicating Momentum Toward $93K
Bitcoin has reclaimed the $90,000 level after a correction that saw it drop to $74,000. It has risen 13.1% in two weeks, currently trading at $90,279, with a 3.3% increase in the past day. Analysts from CryptoQuant note a rise in Bitcoin futures funding rates, indicating increased trader confidence and potential for further price increases. If this trend continues, Bitcoin may test the $93,000 resistance level. Long-term holders (LTHs) have resumed accumulation for the first time since the last market peak, suggesting strategic repositioning. In contrast, short-term holders (STHs) are exiting the market, indicating potential capitulation and aligning with historical local market bottoms. This combination of LTH accumulation and STH exits may signal the early stages of a re-accumulation phase, potentially supporting future price increases.
