Matrixport released today's chart stating that the Bitcoin futures open interest has surpassed 30 billion dollars, in addition to 14 billion dollars in futures contracts from the Chicago Mercantile Exchange (CME), setting a new annual high. Although the funding rate recently surged to 30% (annualized), it has now fallen back to 15%, indicating that some leveraged long traders have chosen to close their positions. It is worth mentioning that despite the decline in the funding rate, the Bitcoin price remains strong, highlighting the activity of buyers in the spot market.

As the funding rate decreases, speculative long traders are able to return to the market at a lower cost, further boosting the bullish sentiment in the market. This series of market changes indicates that the upward momentum of Bitcoin remains solid.