46 days of negative funding rates on $BTC perpetuals could indicate an impending short squeeze.

Everyone sees this as pure bearish. It's not. In fact, the 30-day average funding rate on Binance perpetuals has remarkably remained negative for 46 straight days as of mid-April 2026. Shorts keep paying longs with no price breakdown.

Open interest has climbed. That means fresh shorts piling in, not covering. BTC holds $75k-$78.8k — a 23% bounce from $60k lows in February, yet still 40% off its $126k ATH from October 2025.

This mirrors the 2022 FTX bottom. Same setup preceded massive squeezes after COVID crash in 2020 and China's mining ban in 2021. Recent rates spiked to -0.011%. Meanwhile, over $56B flowed into spot $BTC ETFs — clear institutional demand.

Chart confirms the tension. $BTCUSDT broke resistance for a higher high at 79472.82. RSI sits bullish at 66.82 with strong MACD divergence. Watch the key resistance at 77420 — breach it and shorts get torched.

This isn't capitulation. It's a coiled spring. Negative funding without breakdown builds pressure until sentiment flips.

What’s your level on $BTC right now?

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