Matrixport has released the latest chart. South Korea is known for its active trading of altcoins, but the current trading volume remains low, and the possibility of a significant rebound in altcoins is not high. The funding rate of Bitcoin has always been consistent with the trend of trading volume in South Korea. A higher funding rate usually attracts hedge funds to purchase ETFs to earn price differences. However, the current funding rate of Bitcoin, the trading volume in South Korea, and the purchase volume of Bitcoin spot ETF are all lower than the level in March 2024, and the cryptocurrency market is still waiting for a "shot in the arm". The upcoming US presidential election next week may become a key catalyst for igniting new market momentum.
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Matrixport: The US election may become a key catalyst for the crypto market
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