Matrixport: Bitcoin rose 25% but the funding rate is close to zero, and market volatility may intensify

According to report, Matrixport released a market analysis, stating that there are noteworthy abnormal phenomena in market trends: Bitcoin price has cumulatively risen nearly 25%, with open interest increasing from $22 billion to $29 billion, while the funding rate remains close to zero. This reflects that despite price increases, some futures traders still choose to establish short positions rather than chase the rally. This rare market structure may indicate that the market is about to experience more significant volatility: if prices continue to rise, shorts may be forced to close positions, accelerating the upward momentum; if prices pull 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.