Bitcoin Funding Rates Have Been Mostly Positive During The Past Month
As pointed out by an analyst in a CryptoQuant , the BTC funding rates have been green recently, but not as positive as back between July 18th to 22nd yet.The “funding rate” is an indicator that measures the periodic fee that perpetual futures contract traders are paying each other.
The value of the metric seems to have been above the zero mark in recent days | Source:As you can see in the above graph, the Bitcoin funding rates have been positive for quite some time now, with a few spikes down into the red region.
This shows that longs have been the more dominant force on the futures market during these last few weeks. This trend makes sense as green funding rates usually follow in periods of climbing prices, while negative rates appear during downtrends as longs get liquidated.
BTC Price
At the time of writing, Bitcoin’s price floats around $24.2k, up 1% in the last week. Over the past month, the crypto has gained 18% in value.
The below chart shows the trend in the price of the coin over the last five days.Looks like the price of the coin has been moving sideways in the last few days | Source:
Featured image from Mariia Shalabaieva on Unsplash.com, charts from TradingView.com, CryptoQuant.com