According to ChainCatcher, Matrixport's chart analysis today reveals an unusual market phenomenon: Bitcoin's price has risen by nearly 25%, and the open interest has increased from $22 billion to $29 billion, while the funding rate remains close to zero. This reflects that despite the price increase, some futures traders are still choosing to establish short positions rather than chasing the rally.
This rare market structure may indicate that the market is about to experience more significant volatility: if the price continues to rise, shorts may be forced to close their positions, accelerating the upward trend; if the price pulls back, it could reinforce the current short position layout. Regardless of how the trend evolves, the current market structure points to increased volatility in the future.
