TechFlow reported on March 10 that Matrixport's latest report analyzed how the White House crypto summit and confirmation of a U.S. strategic Bitcoin reserve failed to ignite market sentiment, with no significant upward movement in the crypto market. Perpetual contract funding rates remain at single-digit levels. The analysis pointed out that retail investor enthusiasm remains weak, a sharp contrast to April and December 2024 when funding rates surged into double-digit highs.
The report noted that even the market momentum following Trump's official inauguration has been relatively muted, clearly indicating that Bitcoin needs a more impactful catalyst to usher in a new wave of price increases.
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