Matrixport: BTC is experiencing a correction, with the $89,000-90,000 range as the key support level

Matrixport released today's chart saying that Bitcoin funding rates continue to rise. Although BTC is experiencing a typical market adjustment, leveraged traders are still confident about the future market. From a technical perspective, prices may pull back to the $89,000-90,000 range, a key support level that is expected to stabilize the market. As the Thanksgiving holiday approaches, Bitcoin's amazing +119% increase so far this year is bound to become a hot topic on the holiday table. More noteworthy is that Bitcoin is expected to once again win the title of the best performing asset of the year. The highlight of this round of gains is that traditional financial (TradFi) investors have increased their investment through ETF layouts. Looking ahead to 2025, more institutional funds may flow in, further consolidating Bitcoin's strong upward momentum and strengthening its long-term bullish expectations.