PANews reported on October 28 that Matrixport released its latest report saying that South Korea is known for its active altcoin trading, but the current trading volume is still sluggish and the possibility of a sharp rebound in altcoins is not high. Bitcoin's funding rate has always been consistent with South Korea's trading volume trends. Higher funding rates usually attract hedge funds to buy ETFs to earn price differences.

However, the current Bitcoin funding rate, South Korean trading volume, and Bitcoin spot ETF purchases are all lower than the levels in March 2024, and the crypto market is still waiting for a "boost". Next week's US presidential election may become a key catalyst to ignite new market momentum.