According to Cointelegraph, Bitcoin’s bullish trend intensified during Trump’s Pennsylvania rally, which also coincided with the former president’s survival of an assassination attempt and essentially mirrored the policies implemented by the current Biden administration. Coupled with Trump's previously released party platform, the market expects more favorable regulation.

In order to determine whether cryptocurrency traders are confident that $63,000 will serve as support, it is crucial to analyze the perpetual futures funding rate. The funding rate reflects the current market sentiment to a certain extent. When it appears at a relatively extreme value, it means that the market is overwhelmingly bullish or bearish, and there is a chance of a reversal.

Caption: Bitcoin futures 8-hour average funding rate. Source: Coinglass

We look at the Coinglass Bitcoin futures 8-hour average funding rate. This indicator is typically updated every eight hours and reflects the leverage demand between buyers (longs) and sellers (shorts). Although both sides have equal position sizes, a positive funding rate indicates that longs are paying, indicating a bullish bias in the market.

The data shows that the current funding rate is 0.005% every 8 hours, which is equivalent to 0.10% every 7 days. Although it is lower than the 1.5% figure in the bull market, this figure is considered a relatively neutral rate, and for large investors For most traders, this cost is basically negligible.

In order to further confirm whether the market is in an optimistic mood, it is necessary to take a closer look at Bitcoin's Monthly Futures Contracts. Traders with more trading experience will prefer these contracts because they have no funding rate. In a neutral market, these contracts typically carry a 5% to 10% premium to reflect the longer settlement period.

Caption: Bitcoin 2-month futures premium relative to the spot market. Source: Laevitas.ch

According to the data from Laevitas.ch in the figure above, the premium of Bitcoin 2-month futures relative to the spot market can be compared in detail. On July 15, the premium of Bitcoin futures rose to 11%, breaking through the neutral level of 10% for the first time in the past two weeks. interval. This number shows a slight increase in optimism, considering that Bitcoin’s all-time high in March was $73,757, and the current price is still 14% below that high, indicating that there is quite a lot of room to rise.​

All in all, while some indicators, such as perpetual futures funding rates, remain relatively neutral, the premium on the monthly futures contract shows some optimism. This seemingly contradictory situation can lead to an unexpected rise in the market, especially if the price breaks through a key price, in which case it may trigger the liquidation of short positions, further driving the price upward.

Users use perpetual contracts to hedge spot market risks, and the choice of trading platform is the primary focus

Perpetual contracts have always been the main battlefield on the crypto derivatives circuit, allowing traders to conduct leveraged transactions and control larger positions with smaller funds, thereby increasing market liquidity and trading volume.

Leveraging the dividends from this derivative product, perpetual contracts have also continued to expand to a variety of different crypto-assets, allowing investors to use perpetual contracts to hedge risks in the spot market.

Flipster is one of the fastest growing crypto derivatives trading platforms. It has more than a hundred assets that can be traded with up to 100 times leverage. It also adds new perpetual contracts regularly. Traders can use up to 100 times leverage to trade more than 250 types of perpetual contracts. Renew futures.

Today, Flipster is celebrating the first anniversary of its platform and is holding different events to give away bonuses worth 150,000 USDT. Since its launch, the Flipster platform has seen a 1,943% increase in trading volume and a 3,998% increase in net assets, along with a 190% growth in registrations on the platform and a whopping 565% growth in active traders, with users in 177 countries. , reflecting strong user usage habits and platform satisfaction.

As a multinational exchange with global users, Flipster is well aware of traders’ urgent need for a trading platform. Flipster’s zero transaction fee policy allows traders to help them eliminate transaction costs and maximize their profits. Not only that, Flipster provides larger transactions than large-scale transactions. The platform’s tighter bid-ask spreads and higher liquidity enable seamless trading regardless of market conditions.

Innovating the user experience of crypto transactions, user and asset security are the key directions of the platform.

Over the past year, Flipster has collaborated with several popular partners in the market to bring the trading experience to a new level, including TON (The Open Network), Over Protocol and Scallop (SCALLOP). Flipster is committed to becoming the fastest trading platform to provide the world's first cryptocurrency perpetual futures listing, and has recently listed asset options such as ZRO, ZK, BLAST, XR and MOCA.

The Flipster team is also constantly innovating the user experience of crypto transactions to create unprecedented value for users. Through its earning activities, users can earn USDT rewards while trading. User safety and asset security are also at the top of Flipster’s priority list.

The trading platform adheres to strict KYC protocols. All user accounts are required to use industry-standard security measures such as two-factor authentication, and the Flipster team continuously monitors all transactions to ensure there is no suspicious activity. To protect user accounts, Flipster continuously updates and improves its security measures to respond to emerging threats and technological advances, and conducts ongoing security assessments and compliance checks.

As part of its commitment to transparency, Flipster regularly audits its reserves and publishes a Proof of Reserve (PoR) on its website. Simply put, PoR is a form of verification that ensures all user assets held on the Flipster platform can be managed with maximum security.

Celebrating one-year milestone, Flipster launches prize contest up to 150,000 USDT

Finally, to celebrate the one-year milestone and thank users for their support, Flipster officially announced the launch of two competitions, each with a prize pool of 75,000 USDT. Users can participate in either the Volume Contest or the Profit and Loss (P&L) Trading Contest from 8am on July 17 to 8am on July 25, 2024.​

So be one of the first 12,000 users to register for each competition from 8am on July 10 to 8am on July 25, 2024 to qualify. To receive rewards, users need to contribute a trading volume of at least 10,000 USDT, and the top 200 traders in each competition will receive corresponding rewards.

In addition, Flipster has also launched three exclusive benefit activities for new users in Hong Kong and Taiwan. Starting from July 15, 2024, as long as you register an account, complete KYC identity verification and join the official Telegram channel of Flipster Coin Travel, you will receive a bonus of US$38. There are also trading volume bonuses and deposit bonuses waiting for you, and you can get high rewards of up to 136 USD.

For more event information, please check the official information. In the future, Flipster will also plan to hold offline meetups, offline events, social media competitions and more trading competitions.

The content of this article is officially provided and does not represent the position or investment advice of this site. Readers must make their own prudent assessments.

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