"2024 Bitcoin Forecast: Predictions Point to a Crypto Spring and Record Rallies"
Bitcoin's surge above $45,000 has led to record-high funding rates for perpetual futures, reaching an annualized 66%, indicating costly bullish bets in the market. This increase reflects a strong bullish sentiment, potentially fueled by expectations of a U.S. SEC approval for Bitcoin ETFs. However, such high funding rates can pressure long positions if the market ceases to climb, potentially triggering a sell-off. Despite this, Bitcoin maintains its upward trajectory without signs of bullish fatigue.