Matrixport: The US election may become a key catalyst for the crypto market
Matrixport has released the latest chart. South Korea is known for its active trading of altcoins, but the current trading volume remains low, and the possibility of a significant rebound in altcoins is not high. The funding rate of Bitcoin has always been consistent with the trend of trading volume in South Korea. A higher funding rate usually attracts hedge funds to purchase ETFs to earn price differences. However, the current funding rate of Bitcoin, the trading volume in South Korea, and the purchase volume of Bitcoin spot ETF are all lower than the level in March 2024, and the cryptocurrency market is still waiting for a "shot in the arm". The upcoming US presidential election next week may become a key catalyst for igniting new market momentum.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
WisdomTree has filed for a Delaware trust to launch an XRP ETF
Avalanche launches Avalanche9000 testnet to reducing costs and enable permissionless L1s
Visionary or 'financial comedy'? Market participants weigh MicroStrategy's stock premium amid bitcoin buying spree
MicroStrategy, with a market cap of around $85 billion, currently holds 331,200 bitcoin worth about $30 billion.The stock’s 440% year-to-date surge has baffled some financial pundits, while others have cheered its corporate strategy.
Congress’s top priorities this lame duck session
Here’s a look at what lawmakers are most focused on in these final weeks of the 118th Congress
Trending news
MoreCrypto prices
More
