Bitcoin

when

Read

Coin

<ul class="wp-block-list news-points"> 
 <li>The CEX and DEX funding rates have turned negative and continue to fall.</li> 
 <li>The funding rate of BTC on Binance was -0.0094% while on dYdX was -0.0006%.</li> 
 <li>Bitcoin was trading at $58,035.63, up 2.6% in the past 24 hours.</li> 
</ul> 
Funding rates across major centralized and decentralized crypto exchanges have taken a nosedive, suggesting the digital asset space could face another crash soon as capital inflows slow down. 
Data from <a href="https://www.coinglass.com/AccumulatedFundingRate" target="_blank" rel="nofollow">Coinglass</a> reveals that in the past 24 hours, the funding rate of Bitcoin on Binance was -0.0094%, while on dYdX it was -0.0006%, indicating a bearish sentiment in the perpetual swaps market. Over the last seven days, the funding rate of Bitcoin on Binance was -0.0614%, on OKX was -0.0055%, on dYdX was 0.1457%, on Bybit was 0.0636%, and on Bitget was 0.0718%. 
A negative funding rate occurs when traders with short positions pay a fee to those with long positions. The reverse is true for a positive funding rate. These payments help maintain market equilibrium. 
Read also: <a href="https://coinedition.com/price-to-revenue-ratios-gain-traction-in-blockchain-analysis/">Price-to-Revenue Ratios Gain Traction in Blockchain Analysis</a> 
When funding rates are negative, investor sentiment tends to be bearish because it signals that a majority of trader…
The post <a href="https://coinedition.com/bitcoin-funding-rates-plunge-is-a-market-correction-coming/">Bitcoin Funding Rates Plunge: Is a Market Correction Coming?</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

Bitcoin Funding Rates Plunge: Is a Market Correction Coming?

Coin Edition

Other articles published on Sep 12, 2024

Bitcoin: Decline In Whale Transactions, A Simple Pause Or A Major Hit In Sight?

ENS Names Now Work on PayPal and Venmo: Simplified Crypto Transfers in the U.S.

Expert Analysis On SEC Next Steps In Case Against Ripple and XRP

Just-In: Congressman Reveals New Crypto Bill For SEC & CFTC Joint Regulation

Nigeria’s EFCC Blocks Bail for Binance Executive Despite Health Concerns: Report

Next Cryptocurrency to Explode, September 11 — Injective, SuperVerse, MANTRA, Drift

Join our free newsletter for daily crypto updates!