$BTC
Bitcoin Perpetual Funding Rates Analysis
The continuous observation of Bitcoin perpetual funding rates reveals a persistent and robust positive bias, indicating a prevailing net long position among leveraged traders. This sustained positive sentiment is further underscored by intermittent instances of short-side annualized yields surpassing +50%, highlighting the enduring bullish stance within the market.
A noteworthy transition unfolded in mid-October, marking a shift from oscillating around neutral levels to adopting a consistently positive structure in funding rates. This structural change signifies a broader shift in market dynamics, emphasizing the increased confidence and optimistic outlook among leveraged traders.
Despite a recent cooling off of funding rates this week, it is essential to recognize that the overall trend remains positive. This suggests that the majority of leveraged traders continue to maintain a net long position, contributing to the resilience and confidence in the sustained bullish sentiment surrounding Bitcoin.
As the cryptocurrency market is dynamic, continuous monitoring of funding rates is crucial for staying informed about shifts in trader sentiment and potential market movements.
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Image source : Glassnode
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