Bitcoin funding rates had first fallen below the neutral level last month. Before that, the funding rates had been fluctuating at and below neutral for the longest time. This new trend has lasted longer than expected as the digital asset’s price continues to struggle. In this report, we take a look at the state of bitcoin funding rates as well as the implications if the present trend continues. Funding Rates Below Neutral When bitcoin funding rates had first fallen below neutral in June, the price of the digital asset was still trading well above $30,000. Since then though, multiple crashes and dips have seen the cryptocurrency lose more than $10,000 of its value and continue to struggle to hold above its previous cycle peak. Related Reading | Mid Cap Crypto Coins Lead In July, Best Way To Weather The Winter? However, despite the minor upward corrections that have been recorded since then, the funding rates have refused to budge. At the time of this writing, the funding rates have now spent a complete month with below neutral numbers. Binance and Bybit are some of the most prominent platforms when it comes to calculating funding rates and the last time the crypto exchanges had seen funding rates in the neutral level since bitcoin’s fall from $30,000 had been in mid-June. Instead, the funding rates have begun to mirror the movement of price and have not recovered since then. Funding rates remain below neutral | Source...
