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