Bitcoin Funding Rates Hold Negative, Increasing Chances of Short Squeeze

Bitcoin has begun to consolidate above $13,000. Despite this bullish trend, most Bitcoin funding rates on leading futures exchanges currently are negative. The current Bitcoin futures funding rates are bearish on Binance, BitMEX, and OKEx. Bitcoin Funding Rates Still Negative Bitcoin has begun to consolidate above $13,000. $13,000 has long been an important level for Bitcoin, making this consolidation important for the bull case. The cryptocurrency currently trades for $13,500, above the aforementioned support level. In a continued win for bulls, most Bitcoin funding rates on leading futures exchanges currently are negative. The funding rate is the fee that long positions pay short positions on a recurring basis to keep the price of the future close to the spot market. According to ByBt, a crypto derivatives tracker, the current Bitcoin futures funding rates are bearish on Binance, BitMEX, and OKEx. While this indicates that there may be more aggressive shorts…

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