Bitcoin Cash

Bitcoin ETF

April

Gold

Celestia

<div class="finbold">
 <p class="paragraph">Two cryptocurrencies among the highest open interests in the market currently have negative funding rates, potentially indicating a buy signal.</p>
 <p class="paragraph">The negative funding rates mean short-sellers must pay an interest rate to long-position traders for as long as they keep the short positions open. Therefore, these traders could face liquidation through a short squeeze or be forced to close their positions, potentially impacting prices.</p>
 <p class="paragraph">Looking for insights, Finbold turned to <em>CoinGlass</em>‘s <a rel="noopener noreferrer nofollow" title="funding" href="https://thebittimes.com/tag/funding.html">funding</a> <a rel="noopener noreferrer nofollow" title="rates" href="https://thebittimes.com/tag/rates.html">rates</a> heatmap on April 23. We ordered the chart by <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currencies with the highest open interest (OI) and spotted two possible buy <a rel="noopener noreferrer nofollow" title="signal" href="https://thebittimes.com/tag/signal.html">signal</a>s to consider.</p>
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 <h2 class="wp-block-heading" id="h-bitcoin-cash-bch-short-squeeze">Bitcoin Cash (BCH) short squeeze</h2>
 <p class="paragraph">In particular, Bitcoin Cash (BCH) ranks as the seventh largest cryptocurrency by open interest, with only the 14th largest capitalization. The popular Bitcoin (BTC) competitor has around $337 million in open interest while holding a $10 billion market cap.</p>
 <p class="paragraph">As for the <a rel="noopener noreferrer nofollow" title="funding" href="https://thebittimes.com/tag/funding.html">funding</a> <a rel="noopener noreferrer nofollow" title="rates" href="https://thebittimes.com/tag/rates.html">rates</a>, BCH has the most significant <a rel="noopener noreferrer nofollow" title="negative" href="https://thebittimes.com/tag/negative.html">negative</a> APR among the top 10 <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currencies by OI. With a <a rel="noopener noreferrer nofollow" title="negative" href="https://thebittimes.com/tag/negative.html">negative</a> 10.61% <a rel="noopener noreferrer nofollow" title="funding" href="https://thebittimes.com/tag/funding.html">funding</a> rate, short-sellers might be pressed to close their positions.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="516" src="https://cdn.thebittimes.com/images/2024/04/23/a393e719943db1307024b02b06ec055a.webp" alt class="wp-image-171128" srcset="https://cdn.thebittimes.com/images/2024/04/23/a393e719943db1307024b02b06ec055a.webp 1024w, https://cdn.thebittimes.com/images/2024/04/23/a393e719943db1307024b02b06ec055a.webp 300w, https://cdn.thebittimes.com/images/2024/04/23/a393e719943db1307024b02b06ec055a.webp 768w, https://cdn.thebittimes.com/images/2024/04/23/a393e719943db1307024b02b06ec055a.webp 1536w, https://cdn.thebittimes.com/images/2024/04/23/a393e719943db1307024b02b06ec055a.webp 1832w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Funding Rate Heatmap, 30-day chart by Open Interest (OI), BCH. Source: <em>CoinGlass</em>
  </figcaption>
 </figure>
 <p class="paragraph">Interestingly, Bitcoin Cash has seen an increase in upward liquidity pools due to leveraged liquidation accumulations. As reported by Finbold, this has triggered a short squeeze alert for this week. So far, BCH has not yet been squeezed, which increased the potential of the above negative funding rates buy signal.</p>
 <p class="paragraph">By press time, the maiden cryptocurrency was trading at $510, with a potential surge to above $700.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="528" src="https://cdn.thebittimes.com/images/2024/04/23/5529cc3c426a8048f035d585f6f3ee51.webp" alt class="wp-image-171131" srcset="https://cdn.thebittimes.com/images/2024/04/23/5529cc3c426a8048f035d585f6f3ee51.webp 1024w, https://cdn.thebittimes.com/images/2024/04/23/5529cc3c426a8048f035d585f6f3ee51.webp 300w, https://cdn.thebittimes.com/images/2024/04/23/5529cc3c426a8048f035d585f6f3ee51.webp 768w, https://cdn.thebittimes.com/images/2024/04/23/5529cc3c426a8048f035d585f6f3ee51.webp 1536w, https://cdn.thebittimes.com/images/2024/04/23/5529cc3c426a8048f035d585f6f3ee51.webp 1838w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   BCH Liquidation Heatmap, 1-month chart, BCH. Source: <em>CoinGlass</em>
  </figcaption>
 </figure>
 <h2 class="wp-block-heading" id="celestia-tia-negative-funding-rates">Celestia (TIA) negative funding rates</h2>
 <p class="paragraph">The next most relevant negative funding rates buy signal goes for Celestia (TIA), with nearly 24% APR. Celestia occupies the 27th position by open interest.</p>
 <figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="516" src="https://cdn.thebittimes.com/images/2024/04/23/fffe589b5e314238fb6a696864df1ad3.webp" alt class="wp-image-171130" srcset="https://cdn.thebittimes.com/images/2024/04/23/fffe589b5e314238fb6a696864df1ad3.webp 1024w, https://cdn.thebittimes.com/images/2024/04/23/fffe589b5e314238fb6a696864df1ad3.webp 300w, https://cdn.thebittimes.com/images/2024/04/23/fffe589b5e314238fb6a696864df1ad3.webp 768w, https://cdn.thebittimes.com/images/2024/04/23/fffe589b5e314238fb6a696864df1ad3.webp 1536w, https://cdn.thebittimes.com/images/2024/04/23/fffe589b5e314238fb6a696864df1ad3.webp 1832w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Funding Rate Heatmap, 30-day chart by Open Interest (OI), TIA. Source: <em>CoinGlass</em>
  </figcaption>
 </figure>
 <p class="paragraph">However, unlike Bitcoin Cash, the layer-1 blockchain native token has a neutral liquidation heatmap, which weakens the buy signal even with the high observed funding rate. Finbold previously reported a sell signal for Celestia due to overbought conditions.</p>
 <p class="paragraph">This is a clear demonstration of how unpredictable the cryptocurrency market is. Crypto traders must consider different factors to make profitable decisions while remaining cautious and having a solid risk management strategy.</p>
 <p class="paragraph"><strong><em>Disclaimer</em></strong><em>: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/buy-signal-for-two-cryptocurrencies-with-negative-funding-rates-tbt86255.html">https://thebittimes.com/buy-signal-for-two-cryptocurrencies-with-negative-funding-rates-tbt86255.html</a></p>

Buy signal for two cryptocurrencies with negative funding rates

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