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NewsBTC 2021-12-07 19:00:13

Bitcoin Funding Rates Turn Negative In Sentiment Reset



Data shows following the crash, Bitcoin funding rates flipped to negative for the first time since September as market sentiment resets. Bitcoin Funding Rates Turn Negative For The First Time Since Late September As per the latest weekly report from Glassnode, market sentiment reset after the latest crash in BTC’s price as funding rates turned negative. The “perpetual funding rate” is an indicator that measures the periodic fee that Bitcoin futures traders have to pay each other to keep their positions. This metric helps us know about which direction leveraged positions tend to. When the indicator’s value is negative, it means short traders are currently paying long traders to hold on to their position. Such a trend may show that the market sentiment is bearish on the price of BTC. On the other hand, if the metric’s value is positive, it means the market shares a majority bullish bias as long traders pay a premium to the short traders. Now, here is a chart that shows the trend in the Bitcoin funding rates over the past six months: Looks like the funding rates dipped to negative recently | Source: The Glassnode Week Onchain (Week 49) As you can see in the above graph, the funding rates have been positive for many months now, but following the crash they have turned negative. Related Reading | Understanding Bitcoin UTXO: Mid-To-Long Term Holders Responsible For November Correction The reas...

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