Bitcoin funding rates had seen a very negative month between mid-June and mid-July. The funding rates, which had previously remained muted, quickly declined below neutral and proceeded to spend the next one month on this level. However, there is a significant change as last week saw funding rates return to neutral.
Funding Rate Recovers On Exchanges
The bitcoin funding rates had been touching low points as the price of the digital asset struggled. This was concerning given that funding rates were expected to improve as the digital asset began to basically trade at what was described as a “discount.” This would not be farther from the truth, as funding rates fell to their lowest points this June. It indicated that perp traders were still bearish on the cryptocurrency and refrained from moving in.
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Last week would come with good news as fundi ..
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