Bitcoin Could See a Massive Squeeze as Funding Rates Flip “Extremely Negative”

Bitcoin’s price action has been lackluster as of late, providing investors with few insights into the cryptocurrency’s near-term outlook as it consolidates Although from a technical perspective, it remains unclear as to where it might trend in the near-term, there are a few factors that may provide investors with some guidance One such factor that could have some influence over the digital asset is its funding rates, which have flipped negative throughout the past few weeks Extremely negative funding is oftentimes viewed as a counter-indicator, suggesting that significant upside is imminent in the days and weeks ahead One analyst is expecting Bitcoin to see an intense short-squeeze as bulls liquidate overzealous short-positions Bitcoin and the entire crypto market have been caught within the throes of a consolidation phase. This has done little to offer insight into where the cryptocurrency market trend in the days and weeks ahead. BTC’s trading range,…

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