ChainCatcher news, CryptoQuant analyst Axel stated that Bitcoin is entering the Christmas rally window, with market rating indicators showing bullish but sentiment not yet overheated, and short liquidations further exacerbating the market asymmetry favoring buyers.
Derivatives market structure indicates that the current Bitcoin futures market is dominated by short covering, which will generate mechanical buying pressure, driving price increases, and the market is entering a “bullish neutrality” state, with positive expected returns.
