TechFlow reported, Matrixport released a chart today showing a strong correlation between trading volume in the South Korean market and Bitcoin's funding rate, as Korean traders hold significant influence in the market.
As trading volume declines, the annualized Bitcoin funding rate has also dropped. Recently, volume has remained below $1 billion for three consecutive days, which may signal further decreases in the funding rate.
However, with South Korea Blockchain Week approaching, market activity and sentiment may rebound.
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