Matrixport: Bitcoin funding rate turns negative, position holdings still reach as high as 17.8 billion US dollars

ChainCatcher news, Matrixport posted a chart on the X platform stating that Bitcoin's funding rate has turned negative. August (and September) have always been months of decline for Bitcoin, and this year seems to be no exception.

The significant fluctuations in Bitcoin futures positions drove price increases in May and July. However, with the funding rate now turning negative, the market is experiencing a downward trend.

Despite this, the current position holdings are still as high as 17.8 billion US dollars. In comparison, they were 16 billion US dollars in May and July. This suggests that there may be more liquidations before a rebound occurs.