Matrixport: Last week's rebound was driven by spot market buying, and short-term futures traders are not ready for a breakthrough
On September 16, Matrixport released its latest chart report, pointing out that although Bitcoin rebounded 10% in the past week, the funding rate has turned negative, indicating that the rally was mainly driven by spot market buying rather than leveraged trading in the futures market.
If prices continue to rise, futures traders may turn bullish and push the funding rate to positive, which may push prices higher. At present, it seems that short-term futures traders are not ready for a market breakthrough, but the steady increase in spot buying may force them to change their stance and turn bullish.
