Bitcoin has been struggling over the last couple of weeks and funding rates have responded in different ways to the price. Instead of a rise in funding rates when the price had begun to plummet, they had stayed muted and had even begun to decline, especially during the past week. However, this is changing as the price of the digital asset has begun to take a turn for the better. Funding Rates Recover Bitcoin funding rates declined to one of their lowest points last month and this had been when the price of the digital asset had been higher. At that point, long traders remained relaxed, opting to stay out of the market while the crash raged on. This has now changed given that long traders have begun to move into the market. Related Reading | Altcoins Take The Lead As Bitcoin Struggles To Hold Above $20,000 Funding rates across Binance and Bybit crypto exchanges have been showing a good recovery trend over the last week. Although it remains below neutral, it is close to reclaiming this level. Bybit has seen its bitcoin perpetuals recover to 0.01% over the past weekend. Binance still remains in the negative territory but a total average of the two has returned an average of 0.003% in the perps market. It is obvious that long traders are now rousing from their slumber. This time around, it is with tremendous vigor as evidenced by the growth rate recorded over this time period, going from negative to positive so quickly. Fundi...
