TechFlow news, Matrixport released a chart today indicating that August (and September) have historically been months of Bitcoin price declines, and this year seems to be no exception.
Significant fluctuations in Bitcoin futures positions drove price increases in May and July. However, as funding rates have now turned negative, the market is experiencing a downward trend.
Nonetheless, current position holdings remain high at $17.8 billion, compared to $16 billion in May and July, suggesting that more liquidations may occur before a rebound materializes.
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