BTC contract funding rate fell to -0.03% for the first time, and long orders in market contracts were stopped out continuously

According to BlockBeats, on June 25, Coinglass data showed that the funding rate of BTC contracts fell to -0.03%, which was the first time in nearly two months. The main reason was that BTC fell sharply, causing the long positions of 135 million US dollars of contract users to be liquidated and forced to sell their long contract positions. It is expected that after the market stabilizes, the contract rate of BTC will turn positive.

In addition, the total open interest in the market fell by about 1 billion US dollars, long positions decreased significantly, and short positions maintained a continuous rise for 3 months. This shows that the long positions of the market contracts continued to stop losses during the market decline, forming a certain run effect. The long-short ratio of the contract account is 2.79. During the decline, retail investors are still bullish on BTC through contracts. In the future, we can pay attention to whether there will be a continuous liquidation caused by the pin market to determine whether the market will reverse.