Matrixport: The U.S. election could be a key catalyst for the cryptocurrency market
Matrixport released the latest chart, South Korea is known for its active altcoin trading, but the current trading volume remains sluggish, and the possibility of a significant rebound in altcoins is not high. The funding rate of Bitcoin has always been consistent with the trend of trading volume in South Korea. A higher funding rate usually attracts hedge funds to buy ETFs to earn price differences. However, at present, Bitcoin's funding rate, South Korean trading volume and purchase volume of Bitcoin spot ETF are all lower than those in March 2024. The crypto market is still waiting for a "shot in the arm". Next week's U.S presidential election may become a key catalyst igniting new momentum in the market.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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