The funding rates for bitcoin on Binance have plummeted, reaching levels not seen since October of last year. Now that day three of this bad run has begun, things don't seem good. In case you forgot, traders pay funding rates to maintain their positions on futures contracts. When these rates fall, it indicates that there is a strong inclination in the market to take short positions, or to bet that the price of bitcoin will decline.
#Binance #bonancefunding #binanceindia #bullrun
And that's precisely what's taking place at this moment. The fact that the average Bitcoin funding rate on all exchanges is likewise negative indicates that this bearish attitude is not exclusive to Binance. The fact that Binance has the highest open interest (OI) share indicates that traders are clearly anticipating a difficult ride.

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