Bitcoin’s funding rate on Binance has dropped to about -0.00215%, its lowest level since January last year, according to Techub News, which cited CoinPedia. The move came as Bitcoin pulled back to around $83,000, a level the report linked to a rise in bearish sentiment among futures traders. In perpetual futures markets, a negative funding rate means short-position holders pay fees to long-position holders. The reading is often watched as a gauge of positioning in the derivatives market, and the latest figure points to heavier downside bias among traders on Binance. The report did not provide additional market data beyond the funding-rate level and the spot price area mentioned.
Bitcoin’s funding rate on Binance has fallen to about -0.00215%, the lowest level since January last year, according to Techub News, citing CoinPedia.
The report said bearish sentiment among futures traders intensified as Bitcoin pulled back to around $83,000. A negative funding rate means holders of short positions pay fees to holders of long positions.
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