On May 21, Matrixport shared its market analysis today, stating, "A familiar pattern is re-emerging. Bitcoin is approaching a new historical high point, with open interest rebounding to a record $34 billion, but funding rates remain close to zero. This indicates that the current rise is primarily driven by spot buying, rather than leveraged contract positions.
Lower funding rates suggest limited speculative bubbles, thereby reducing the risk of violent adjustments due to excessive leverage. Therefore, market volatility remains at a cyclical low point and is unlikely to experience significant fluctuations in the short term.
The Bitcoin market is evolving, increasingly dominated by long-term investors rather than short-term speculators."
