💸Bitcoin funding rates on Binance have hit the lowest point of the year, showing a high level of negativity. The funding rates have been in the negative territory for three days in a row, reaching levels last seen in October 2023. The average Bitcoin funding rate, which takes into account funding rates on all exchanges, has also turned negative. This indicates that short positions are currently dominating the perpetual market. Considering that Binance has the largest share of open interest (OI), this could suggest a bearish market sentiment for the short term.