Bitcoin funding rates had fallen below neutral two weeks ago after finally recovering from a month-long downtrend. This had sparked fears of another bearish trend starting in the market. However, this has quickly changed as the numbers for last week have come in. This time around, the bitcoin funding rates are painting a better picture for the digital asset. Funding Rates Return To Neutral The bitcoin funding rates for the last week have been more optimistic compared to previous weeks. This is because it had continued to maintain its positive at neutral for the whole seven days; there was not a single point in the week that funding rates had actually fallen below neutral. This is the first time since March that the funding rates have consistently remained above the negative level for a while week. Related Reading: Bitcoin Miner Revenues Continue To Grow, Will This Put A Stop To The Sell-Offs? A recovery in funding rates is always a welcome change for the market, this is why last week’s day remains important. With a market such as this, where bitcoin continues to struggle to comfortably break above $23,000, there needs to be a significant change in not only sentiment but in the amount of money being injected into the space. BTC funding rates return to neutral | Source: Arcane Research With funding rates recovering to neutral, it once more puts it on a path towards becoming neutral, something that has eluded bitcoin for mos...
