Bitcoin to hit $45k in 2023 as funding rates signal FOMO, Matrixport says
Crypto services provider Matrixport insists Bitcoin is still on track to reach $45,000 by the end of the year. Bitcoin (BTC) will keep growing to $45,000 this year as futures funding rates signal bullishness among traders. As crypto services provider Matrixport noted in an X post on Oct. 24, the Bitcoin futures funding rates stay “sky-high,” signaling a “FOMO-driven market.” Bitcoin Update: FOMO Returns! The #Bitcoin futures funding rate is sky-high, signaling a FOMO-driven market. Bitcoin dominance at 52.1%, with volumes soaring at $29bn traded in 24 hours. Our 2023 target of $45,000 is on track, thanks to our proven trading models.… pic.twitter.com/tiTqRMQl2b — Matrixport (@realMatrixport) October 24, 2023 Data from Coinglass indicates that BTC futures funding rates increased significantly after it surpassed the $33,000 threshold. As of press time, out of nine crypto exchanges, only one signal s a negative funding rate, suggesting that most trad...