Bitcoin Funding Rates Hold Negative, Increasing Chances of Short Squeeze

2020-10-31 07:03

Bitcoin has begun to consolidate above $13,000. Despite this bullish trend, most Bitcoin funding rates on leading futures exchanges currently are negative. The current Bitcoin futures funding rates are bearish on Binance, BitMEX, and OKEx. Bitcoin Funding Rates Still Negative

Bitcoin has begun to consolidate above $13,000. $13,000 has long been an important level for Bitcoin, making this consolidation important for the bull case. The cryptocurrency currently trades for $13,500, above the aforementioned support level.

In a continued win for bulls, most Bitcoin funding rates on leading futures exchanges currently are negative. The funding rate is the fee that long positions pay short positions on a recurring basis to keep the price of the future close to the spot market.

According to ByBt, a crypto derivatives tracker, the current Bitcoin futures funding rates are bearish on Binance, BitMEX, and OKEx.

While this indicates that there may be more aggressive shorts than longs, the negative funding rate increases the chance that there is a short squeeze. More simply, it increases the incentive for short holders to close their positions to avoid paying the funding rate to longs.

Analysts Expect Upside

Analysts in the space expect upside as Bitcoin begins to coil for a breakout on a macro scale, having taken $13,000 as support.

Raoul Pal, CEO of Real Vision and a Wall Street veteran, recently said the following on Bitcoin’s outlook:

“The macro, flows, technology, demography and societal strains have all converged to this moment in time and the definite answer from markets is – #bitcoin. I get this sounds a little evangelical but Im struggling to see it any other way right now.”

This has been echoed by Tyler Winklevoss, one of the two Winklevoss Twins that launched Gemini and are now Bitcoin billionaires. He said:

“I do think we will see an all-time-high price for #Bitcoin before 2020 is over. Even though the price has climbed from 10k to almost 14k in less than a month, it hasn’t really gone on a breakout run yet. When we start to see 3-5k surges then the bulls will be on the run.”

The Winklevoss Twins shared an article indicating that Bitcoin could surge over $100,000 if it manages to take a good amount of gold’s market share.

Featured image from Shutterstock Price tags: xbtusd, btcusd, btcusdt Charts from TradingView.com Bitcoin Funding Rates Hold Negative, Increasing Chances of Short Squeeze

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 65428.6 (+0.33%)
Объем 24H $29.568b
Изменеия 24h: -0.78 %, 7d: 4.09 %
Cегодня L: $65194.83 - H: $65473.63
Капитализация $1288.899b Rank 1
Цена в час новости $ 13504.78 (384.48%)

bitcoin funding rates futures negative currently exchanges

Источник: bitcoinist.com

bitcoin funding → Результатов: 126


Craig Wright accuses Binance and Tether of funding prostitution and slavery, community backlash ensues

Craig Wright, the controversial Bitcoin SV creator claiming to be Satoshi Nakamoto, accused crypto exchange Binance and stablecoin company Tether of funding prostitution and slavery. During the CoinGeek conference in Toronto, Wright said that 30 percent of “Binance and Tether money” is used to fund illegal operations such as prostitution and women in slavery.

2019-6-3 08:16


Facebook’s Shady Bitcoin Killer Crypto ‘GlobalCoin’ is Coming 2020

By CCN: Facebook’s cryptocurrency ambitions could translate into reality as soon as next year. The BBC reports that the social media behemoth is on track to start testing its bitcoin rival – known internally as GlobalCoin – by the end of the year before its digital payments system comes online across 12 countries in the first quarter of 2020.

2019-5-24 12:29


Hamas Militant Uses Bitcoin Wallets To Avoid Crypto Financing Activities From The Authorities

Hamas Militant Uses Bitcoin Wallets To Avoid Authorities The militant wing of Hamas received $7,400 in funding but it has been difficult for them to hide the funds received. Al-Qassam Brigades asked supporters to send funds in Bitcoin (BTC) in order to avoid using traditional financial methods. They are also using increasingly complex methods to […]

2019-4-27 23:11


Facebook Coin Seeks $1 Billion in Funding; Is it Really the ‘Biggest Boon for Crypto Ever?’

Crypto entrepreneur and hedge fund manager Jeremy Gardner says Facebook’s impending cryptocurrency is not a threat to the bitcoin community. In fact, he believes it’s a huge positive for crypto. Speaking at the ELEV8 conference, Gardner said: “This may be the biggest boom for crypto ever… I can only see it being a net positive in the short term.

2019-4-9 17:40


Фото:

North Korean Hackers Pivot Towards Cryptocurrency to Fund Country’s Nuclear Program

North Korean hackers with the backing of Pyongyang are targeting cryptocurrency exchange platforms as part of efforts to raise funding for the country’s nuclear weapons program. Wired reports that several international cybersecurity experts believe a hacking syndicate based in the country is also responsible for attacks against banks across the globe.

2019-4-5 13:00


Crypto Winter Thaws as Bitcoin Investment Firms Raise Nearly $275 Million

Down more than 82 percent from its all-time high at $813 billion, the crypto market technically remains neck-deep in a 15-month long bear market that began in January 2018. But, in recent months, with support from some of the largest financial institutions in the global market, the crypto industry has seen significant progress in areas including institutionalization, regulation, and adoption.

2019-3-29 20:40


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru