On-chain data shows the Bitcoin funding rates have remained at positive values recently as the crypto’s price has continued its recovery. Bitcoin Funding Rates Have Been Mostly Positive During The Past Month As pointed out by an analyst in a CryptoQuant post, the BTC funding rates have been green recently, but not as positive as back between July 18th to 22nd yet. The “funding rate” is an indicator that measures the periodic fee that perpetual futures contract traders are paying each other. When the value of this metric is greater than zero, it means long traders are paying a premium to the short traders right now in order to hold onto their positions. Such values indicate that a bullish sentiment is more dominant in the market currently. Related Reading: Quant Explains How Bitcoin NUPL Cycles Are Getting Less Volatile With Time On the other hand, negative values of the indicator suggest the number of shorts are overwhelming that of the longs right now. This kind of trend naturally hints that the majority sentiment is bearish at the moment. Now, here is a chart that shows the trend in the Bitcoin funding rates over the past couple of months: The value of the metric seems to have been above the zero mark in recent days | Source: CryptoQuant As you can see in the above graph, the Bitcoin funding rates have been positive for quite some time now, with a few spikes down into the red region. This shows that lo...
$285 Million in Bitcoin Shorts Wiped Out
