Blockchain analytics platform CryptoQuant has analyzed historical Bitcoin price movements and highlighted three critical phases during the 2020-2021 bull run. The first phase saw stable Binance Bitcoin Funding Rates before a strong demand for Bitcoin drove its price from $9,000 to $12,000. The second phase involved Bitcoin consolidation before a climb to $19,000, with funding rates turning negative and then positive. The third phase began with Bitcoin exceeding previous highs and holding steady above $60,000, with funding rates at 0.17. Currently, Binance Bitcoin Funding Rates are at 0.01, indicating potential for the next positive momentum. Analysts are watching closely to see if the rates surpass 0.01 as Bitcoin enters the third phase.



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