In the simple model, we analyze Bitcoin’s performance since November 20, 2022, when its price was $15,760. This model considers the lowest point after the all-time high of $69,000 in November 2021, marking the beginning of the bull market.

On the chart, green points indicate moments when Bitcoin’s funding rate ended the day below -0.001% on major exchanges, suggesting good buying opportunities during the bull run, when most of the market was predicting a price drop.

Red points indicate moments when Bitcoin’s funding rate ended the day above 0.075%, suggesting opportunities to take partial profits, taking advantage of the market’s excessive enthusiasm predicting a price increase.