Market conditions are favorable for an annual rally, says GSR head

According to BlockBeats, Spencer Hollar, head of over-the-counter trading at GSR, commented on the current market conditions. He noted that most bullish positions have been largely liquidated, creating a basis of skepticism. Hollar emphasized that funding rates for perpetual contracts are very low, even negative, indicating minimal leverage in the market. Overall, he believes this structure is quite favorable for a Santa rally, pointing to a positive market outlook as the year approaches its end.$BTC

BTC

85,705.65

-3.42%