Bitcoin Funding Rate Turns Negative 📉
Bitcoin perpetual funding rate has dropped to -6% after BTC fell to $63,000, showing strong bearish sentiment in the market. Over $500M in crypto positions were liquidated, including nearly $420M in long positions.
Meanwhile, open interest climbed from 668K to 687K BTC, suggesting traders are aggressively opening new positions. Deep negative funding often signals crowded shorts, increasing the possibility of a short squeeze if momentum reverses.
GOOGLon
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