TechFlow news, on July 23, according to the latest report by independent analyst Markus Thielen, Bitcoin open interest surged by $6 billion over the past two weeks, with funding rates annualized soaring to 19%, indicating the market has accumulated a large number of aggressive leveraged long positions. During the same period, retail trading activity in South Korea increased significantly, with cryptocurrency trading volume jumping from $1 billion to $6 billion, highlighting the dominant role of retail capital in this market cycle.
Analysts warn that as prices enter a consolidation phase, highly leveraged long positions face the risk of being passively liquidated, especially after next week's FOMC meeting when the market may enter the traditional summer lull in August. Although there is short-term volatility pressure, multiple key positive factors are building up momentum for the period after summer, and the overall upward trend in the crypto market has not ended.
