ChainCatcher news, Matrixport's latest weekly report shows that the progress of the fifth Bitcoin bull market closely aligns with its prediction made in July 2023. The report forecasts that Bitcoin will reach $125,000 by December 2024, and as Bitcoin approaches the $100,000 mark, this prediction becomes increasingly credible. The report suggests that institutional investors allocate both Bitcoin and gold, based on the Black-Litterman asset allocation model, which is expected to achieve a return rate of 15.6% with a Sharpe ratio of 1.6.The research indicates that although Bitcoin has outperformed gold in recent years, both assets hold investment value due to their low correlation and macroeconomic outlook. The report specifically notes that a sell-off in gold after the U.S. elections could present a good buying opportunity, and it is expected that central banks worldwide will continue to diversify their reserve assets in the coming years, further enhancing gold's importance in institutional portfolios.

ChainCatcher news, Matrixport released today's chart stating that the Bitcoin futures open interest has surpassed $30 billion, plus $14 billion in futures contracts from the CME, setting a new high for the year. Although the funding rate recently surged to 30% (annualized), it has now fallen back to 15%, indicating that some leveraged long traders have chosen to close their positions. It is worth mentioning that even with the decline in the funding rate, the Bitcoin price remains strong, highlighting the activity of buyers in the spot market.As the funding rate decreases, speculative long traders can return to the market at a lower cost, further boosting the bullish sentiment. This series of market changes indicates that the upward momentum of Bitcoin remains solid.

ChainCatcher news, Matrixport released daily charts, indicating that the current actual volatility of Bitcoin is relatively low compared to the bull markets of 2020/2021. This may be due to the rise of high-volatility alternative assets (such as meme coins) or the gradual replacement of more volatile retail traders by institutional investors, who are becoming the dominant force in the market.Currently, Bitcoin spot ETF options have officially launched, providing a new window for observing market dynamics. Against the backdrop of Bitcoin's 30-day actual volatility being at a moderate level, traders may push up implied volatility by buying call options or profit from attractive volatility premiums by selling options.The addition of an active options market is another important milestone for Bitcoin's financialization, expected to enhance market liquidity and attract more participation from professional investors.

ChainCatcher news, Matrixport released today's chart stating that the strongest bullish signal currently comes from the 7-day stablecoin minting indicator, which measures the scale of fiat currency inflows into stablecoins over a 7-day rolling period. Compared to previous periods, this indicator has nearly doubled, indicating an exceptionally strong demand for cryptocurrencies in the market, while a large amount of new capital is flooding into the market.Although prices may rise significantly with minimal selling pressure, the stablecoin minting indicator further suggests that a substantial amount of new funds is entering the market. Historical data shows that the inflow of funds is strongest in the first quarter, indicating that larger-scale allocation of funds may still take several weeks, thereby further enhancing the potential for sustained price increases.

ChainCatcher news, Matrixport released a daily chart report indicating that in the past 24 hours, Bitcoin's trading volume surpassed $145 billion, setting a new historical high, nearly 50% higher than the flash crash in early August and the peak in March of this year.This surge in trading volume suggests that retail investors are returning to the crypto market. According to historical data, during bull market phases, retail trading activity typically lasts for several weeks or even months, so the increase in trading volume can be seen as a bullish signal.Google search interest in Bitcoin has also surged significantly, reaching a five-year high of 78%. Additionally, since the U.S. presidential election, inflows into Bitcoin ETFs have exceeded $1 billion for two consecutive days.

ChainCatcher news, Matrixport released its daily chart, indicating that the Bitcoin funding rate has soared to 37%, reaching its highest level since March 2024, reflecting a general bullish sentiment in the market. The futures open interest has also significantly increased from $16 billion in September to $28 billion.Given that Trump's inauguration will take place on January 20, 2025, the market has ample time to maintain this bullish momentum. Matrixport predicted a year-end target of $100,000 in its October report "Matrix on Target," and this milestone may be achieved ahead of schedule.

ChainCatcher news, financial services platform Matrixport announced the integration of Fly Wing Technologies Pte Ltd ("Fly Wing")'s OTC services into its APP, providing a one-stop cryptocurrency trading experience. All accounts certified by Matrixport must complete Fly Wing's eKYC process to access its OTC services.Unlike traditional C2C services, Fly Wing's OTC services facilitate fund transfers through bank transfers with partner banks, ensuring asset security and transaction transparency. This service combines compliance and convenience, aiming to lower the barriers for traditional financial investors to enter the cryptocurrency market. Currently, the OTC functionality only supports trading in USD, USDT, and USDC.

ChainCatcher news, Matrixport released a daily chart report, indicating that Bitcoin experienced a slight sell-off at the critical moment of the election, with the Greed and Fear Index retreating from the overbought "Greed" zone to a more balanced level, creating conditions for subsequent increases.As the results of the U.S. presidential election become clearer, the market is expected to welcome a year-end rally in risk appetite. With the election situation being tight and volatility continuing to rise, once volatility decreases, traders will be in a better position to increase their positions.Against the backdrop of strengthening upward momentum in Bitcoin, the Greed and Fear Index is also expected to rise further.

ChainCatcher news, Matrixport released a chart stating that as the U.S. presidential election approaches, market traders' anxiety has increased, but BTC remains in a neutral zone. Currently, Bitcoin's 21-day Relative Strength Index (RSI) has dropped to 56%, well below the 70% overbought threshold, indicating that Bitcoin is neither overbought nor oversold.Since a neutral RSI typically suggests that traders are less impacted by market fluctuations, a neutral RSI implies that Bitcoin's risk premium (including high implied volatility) may decrease after the election.This stands in stark contrast to the bear market decline when the RSI value reached 80% in March, while a significant rebound occurred in July and August when the RSI was only 25%. Considering this situation, selling volatility this week seems to be a potentially attractive strategy.

ChainCatcher message, Matrixport released the latest report stating that the Bitcoin price has not yet reached the $125,000 target listed in our report on July 6, 2023, with two months remaining until the end of the year.Although this target seems somewhat ambitious, so far, the Bitcoin price trend has followed the price trajectory proposed in our 2023 research report. Therefore, Bitcoin still has the potential to continue its upward momentum, as we predicted in our analysis from July 2023, after reaching a new high for the year.

ChainCatcher news, Matrixport announced that its Singapore subsidiary Fly Wing Technologies Pte Ltd ("Fly Wing") has received in-principle approval for a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS).It is reported that Fly Wing's clients include cryptocurrency miners, trading firms from both the crypto and traditional finance sectors, investment companies, and high-net-worth individuals. The company facilitates over $100 million in over-the-counter transactions each month and provides liquidity for fiat and mainstream cryptocurrency deposit and withdrawal services.

ChainCatcher news, Matrixport released a daily chart report. In November 2016, when Trump was first elected, the price of Bitcoin was around $700 per coin and surged significantly in his first year in office.While a single data point is insufficient to form a trend, market optimism remains high. Many believe that if Trump is elected again, regulatory relaxations could lead to further upward movement for Bitcoin. Currently, the betting market estimates Trump's winning probability at 66.5%, which could become one of the largest margins in history.Meanwhile, Bitcoin demand continues to rise, with recent daily Bitcoin ETF purchases reaching $800 million, further reducing the supply of Bitcoin on exchanges.