Matrixport: Bitcoin rally suppressed by short resistance "
According to online reports, Matrixport released today's chart analysis saying,"There is a noteworthy anomaly in the market trend: Bitcoin prices have increased by nearly 25%, and the size of open contracts has increased from US$22 billion to US$29 billion, but the funding rate remains at a level close to zero. This reflects the fact that despite price increases, some futures traders still choose to establish short positions rather than chase gains. This rare market structure may mean that the market is about to usher in greater volatility: if prices continue to rise, short positions may be forced to close their positions, driving the rally to accelerate; if prices retract, it may strengthen the current layout of short positions. No matter how the trend evolves, the current market structure points to increased volatility in the future."
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