PANews reported on May 9 that according to Matrixport's latest report, the price of Bitcoin has once again surpassed $100,000, having increased by about 16% since it broke through $85,450 on April 11. The report mentions that after Bitcoin broke the 21-week moving average ($87,199) and the Fibonacci resistance level ($87,045), combined with accelerated ETF inflows, a robust upward signal framework has formed, providing a reasonable basis for allocating bullish options.
Currently, Bitcoin's market cap share has risen to 64.5%, a new high since the DeFi boom of 2021, indicating a preference for quality assets. In contrast, altcoins continue to perform poorly, with social media discussion volume declining by over 40% since December 2024. The report suggests continuing to hold long positions in Bitcoin either through spot or perpetual futures, while using altcoin perpetual futures for hedging, as their funding rates remain low.
