Analysis: Retail leverage soared before FOMC, key positives may emerge in late summer
PANews reported on July 23 that Matrixport said in today's chart that in the past two weeks, Bitcoin open interest has increased significantly by $6 billion, and the annualized funding rate has soared to 19%, indicating that there are a large number of aggressive leveraged long positions in the market. At the same time, South Korea's retail trading activity has increased significantly, and cryptocurrency trading volume has jumped from $1 billion to $6 billion, reflecting the dominant role of retail funds in this round of market conditions. However, as prices enter a sideways phase, these highly leveraged long positions may face the risk of passive liquidation, especially after the FOMC meeting next week, when the market will enter a relatively light August trading period. Although there may be volatility pressure in the short term, several key positives are building momentum for after the summer, and the overall upward trend of the crypto market has not yet ended.
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