ChainCatcher news, Matrixport released its daily chart, indicating that the Bitcoin funding rate has soared to 37%, reaching its highest level since March 2024, reflecting a general bullish sentiment in the market. The futures open interest has also significantly increased from $16 billion in September to $28 billion.Given that Trump's inauguration will take place on January 20, 2025, the market has ample time to maintain this bullish momentum. Matrixport predicted a year-end target of $100,000 in its October report "Matrix on Target," and this milestone may be achieved ahead of schedule.

ChainCatcher news, Matrixport released a chart stating that the trading volume in the Korean market is highly correlated with the Bitcoin funding rate, as Korean trading users have significant influence in the market. As trading volume declines, the annualized Bitcoin funding rate also decreases. Recently, the trading volume has been below $1 billion for three consecutive days, which may indicate that the funding rate will further decline.However, with the approach of the Korean Blockchain Week, market activity and sentiment may rebound.

ChainCatcher message, Matrixport released a chart on platform X stating that the Bitcoin funding rate has turned negative. August (and September) has historically been a month of decline for Bitcoin, and this year seems no exception.The significant volatility in Bitcoin futures positions in May and July drove prices up. However, with the funding rate now turning negative, the market is experiencing a downward trend.Despite this, the current position open interest remains as high as $17.8 billion, compared to $16 billion in May and July, indicating that there may be more liquidations before a rebound occurs.