Matrixport: Bitcoin funding rate turns negative, and the market is clearly on a downward trend

According to Odaily Planet Daily, Matrixport released a chart saying that the Bitcoin funding rate has turned negative. August and September have historically been months when Bitcoin fell, and this year seems to be no exception. Large fluctuations in Bitcoin futures positions drove prices up in May and July. However, with the funding rate now turning negative, the market is experiencing a downward trend. Current position holdings are still as high as $17.8 billion, compared with $16 billion in May and July, indicating that there may be more liquidations before a rebound.