) is currently priced significantly lower than it was in late 2021. Still, the mood in the market is as positive as it was back then., a mechanism that keeps the prices of bitcoin perpetual futures contracts in sync with the spot market price. When perpetual futures are trading above spot, the funding rate is positive and holders of bullish long, or buy, positions pay bearish shorts to keep their trade open. The opposite happens when perpetuals trade below the spot price.
As of Thursday, the annualized bitcoin perpetual funding rates across major exchanges including Binance was 8.491%, the highest since Dec. 3, 2021, according to data tracked by blockchain analytics firm Glassnode. The funding rate flipped positive in mid-December last year, indicating seller exhaustion. The cryptocurrency picked up a strong bid at the turn of the year and has rallied over 40% since then.
godbole17 This is great news for both leverage traders and the cryptocurrency market as a whole! The surge in perpetual funding rates suggests that Bitcoin's price will continue to increase, resulting in higher
godbole17 Trading is too risky as for me, i prefer to just hodl a decent amount of crypto in my ownr wallet
godbole17 Nice to have Bitcoin jump to the highway, a bullish sign while it’s dull early
godbole17 Dump incomming
godbole17 👀
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