Matrixport: Crypto market faces short-term volatility, but overall uptrend is not over

Matrixport released a chart today stating that Bitcoin's open interest has increased significantly by $6.00B in the past two weeks, and the annualized funding rate has soared to 19.00%, indicating a large number of aggressive leveraged long positions in the market. At the same time, the activity of South Korean retail investors has increased significantly, and cryptocurrency trading volume has jumped from $1.00B to $6.00B, reflecting the dominant role of retail funds in this round of market conditions. However, as prices enter a sideways phase, these highly leveraged long positions may face the risk of passive liquidation, especially after next week's FOMC meeting, when the market will enter a relatively quiet August trading period. Despite short-term volatility pressure, multiple key positives are building momentum for after the summer, and the overall upward trend in the crypto market is not over. [Odaily]