Bitcoin has been struggling to hold on to the $30,000 level for the better part of this week, failing more often than not. While there have been various reactions from different parts of the market such as the ETFs, perpetual traders seem to have taken this as a sign to hold off on their activities. What this has led to is a continuation of the neutral or below-neutral funding rates that have been recorded in the past couple of weeks.
Bitcoin Funding Rates Unmoved
For the past few months, bitcoin funding rates have been tethering around the neutral and below neutral levels. This has been the case through both market recoveries and downtrends, although there have been periods of slight deviations where funding rates have recovered into the positive but even these have been short-lived.
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The last time that the funding rate saw a sharp recovery had been May 12th o ..
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