PANews reported on May 9 that according to the latest report from Matrixport, the price of Bitcoin once again exceeded $100,000, having risen by about 16% since breaking through $85,450 on April 11. The report mentioned that after Bitcoin broke through the 21-week moving average ($87,199) and the Fibonacci resistance level ($87,045), coupled with the accelerated inflow of ETF funds, a robust upward signal framework was formed, providing a reasonable basis for the allocation of call options.
Currently, Bitcoin's market capitalization has risen to 64.5%, a new high since the DeFi boom in 2021, indicating a preference for high-quality assets. In contrast, altcoins continue to perform poorly, with social media discussions falling by more than 40% since December 2024. The report recommends continuing to hold long Bitcoin positions in the form of spot or perpetual futures, while using altcoin perpetual futures for hedging, as its funding rate remains low.
