Bitcoin price Gradually retains its upward trend while the flagship asset looks at the central bar of $ 100,000 after a slight rebound on Monday. During the performance of decreasing prices in recent days, recent data show that BTC financing rates have constantly maintained a bullish feeling.
BTC financing rates defy market decline
Bitcoin has faced a downward pressure in the past few days, which has made its price retain the range of $ 94,000. Despite the drop in significant prices, funding rates through several exchanges of cryptography remain positive.
Alphratcal, an advanced investment and data analysis company reported Development in a post X. Platform data show that aggregated Bitcoin financing rates have maintained an upward trend among 11 crypto exchanges, reporting that traders maintain an optimistic feeling.
In simple terms, more merchants place long -term betting on the LEV effect on the BTC than short -term bets because they provide for a recovery in prices. This implies that long -term investors Cover the financing costs, which are evaluated every 8 hours, while short -term investors are paid.
An increase in long -term positions highlights solid investor confidence in the long -term potential of the BTC. If this positive trend continued, development could stimulate Enlan renewed in the coming daysallowing the assets to recover the levels of resistance of the keys.
According to Alphracttal, Bitfinex (BTC-USDT) has the highest funding rate at the moment, while Bitmex (XBtréd) and OKX (BTC-USD-SWAP) are the only two crypto exchanges with negative financing rates. The gap suggests that traders have different opinions on the market on different platforms.
Addressing that development could mean for bitcoin, Alphractal said that if the funding rate remains positive, it can be a sign of excessive confidence and the possibility of liquidation should BTC price Continue to fall. However, it can indicate a more lower market for the BTC where short positions dominate if the rate becomes negative at all levels.
In the meantime, Alphractal stressed that most exchanges still display positive financing rates because they maintain an overall average than zero. More specifically, the maintenance of an overall average than zero suggests that the market is not still generally lower even if it has decreased.
Premium index coinbase becomes green
Another metric that has turned The premium cornerbase index is positive. An increase in metric demonstrates renewed confidence and BTC request Among American institutional investors.
Reading related: Bitcoin Coinbase Premium Index returns as the euphoria on the market increases, an imminent rally?
Since the index has become positive, it had a positive impact on BTC, causing a rebound in the bar of $ 94,000 at $ 97,000. However, the flagship asset must to recover Above $ 100,000 in order to establish a prolonged upper momentum.
At the time of writing the editorial staff, Bitcoin fell by more than 2%, bringing its price at $ 97,400. With the feeling of investors, as evidenced by an increase of almost 84%, the decline can move shortly.
Felash star image, tradingView.com graphic
