According to ChainCatcher, Matrixport released a chart saying that the trading volume in the Korean market is highly correlated with the Bitcoin funding rate, because Korean trading users have a significant influence in the market. As trading volume declines, the annualized Bitcoin funding rate also declines. Recently, trading volume has been below $1 billion for three consecutive days, which may indicate that the funding rate will fall further.

However, as the Korean Blockchain Week approaches, market activity and sentiment may pick up.