Matrixport: Crypto Market Faces Short-Term Volatility, But Overall Uptrend Remains Intact

Odaily Planet Daily News: Matrixport released today’s chart, noting that over the past two weeks, Bitcoin open interest has surged by $6 billion, with the annualized funding rate soaring to 19%. This indicates a significant presence of aggressive leveraged long positions in the market. Meanwhile, retail trading activity in South Korea has risen sharply, with cryptocurrency trading volume jumping from $1 billion to $6 billion, reflecting the dominant role of retail capital in the current market rally.
However, as prices enter a consolidation phase, these high-leverage long positions may face the risk of forced liquidation, especially after next week’s FOMC meeting, as the market heads into a relatively quiet August trading period.
Although there may be short-term volatility pressure, several key bullish factors are building momentum for after the summer, and the overall upward trend in the crypto market remains intact.