Bitcoin Funding Rates Hit 46-Day Negative Streak to Signal Potential Market Bottom
Bitcoin holders may find a rare buy signal in a 46-day streak of negative funding rates on Binance perpetuals. This condition means new short positions are being added to the market rather than closed. According to Vetle Lunde, head of research at K33 Research, risk-off regimes of this length have historically been attractive entry points for the asset. The last time funding rates remained negative for this duration was after the FTX crash in late 2022, which marked the bottom of that bear market. This sentiment shift coincided with a rally on Tuesday that pushed Bitcoin to an intraday high of $76,120. The price hit its highest level in 70 days.
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