According to TechFlow, Matrixport released a chart today saying that August (and September) have always been months when Bitcoin fell, and this year seems to be no exception.
Large fluctuations in Bitcoin futures positions drove prices higher in May and July. However, with funding rates now turning negative, the market is experiencing a downward trend.
Still, open interest is currently high at $17.8 billion, compared to $16 billion in May and July, suggesting more liquidations could come before a rebound.
