{"id":571155,"date":"2024-01-24T14:00:55","date_gmt":"2024-01-24T14:00:55","guid":{"rendered":"https:\/\/ktsl888.com\/?p=571155"},"modified":"2024-06-11T07:03:03","modified_gmt":"2024-06-11T07:03:03","slug":"bitcoin-downtrend-end-signal-one-watch","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-downtrend-end-signal-one-watch\/","title":{"rendered":"When Will Bitcoin Downtrend End? This Signal Could Be One To Watch"},"content":{"rendered":"

An analyst has explained that a futures market signal could be one to wait for before the latest Bitcoin drawdown can finish.<\/p>\n

Bitcoin Funding Rates Are Still In The Positive Territory<\/h2>\n

As pointed out by an analyst in a CryptoQuant Quicktake post<\/a>, the BTC funding rate has been reducing recently, but it’s still at positive levels. The “funding rate<\/a>” refers to an indicator that keeps track of the amount of periodic fee that futures contract holders are exchanging between each other currently.<\/p>\n

When the value of this metric is positive, it means that the long traders are paying a premium to the short holders right now in order to hold onto their positions. Such a trend suggests that a bullish mentality is dominant in the futures market.<\/p>\n

Related Reading: Analyst Says \u201cRapid Price Recovery\u201d Is Likely For Bitcoin, Here\u2019s Why<\/a><\/div>\n

On the other hand, the indicator being negative implies a bearish sentiment may be shared by the majority of the traders as the shorts are outweighing the longs at the moment.<\/p>\n

Now, here is a chart that shows the trend in the Bitcoin funding rate over the past year:<\/p>\n

\"Bitcoin<\/p>\n

Looks like the value of the metric has been positive in recent days | Source: CryptoQuant<\/a><\/pre>\n
As displayed in the above graph, the Bitcoin funding rate has been almost entirely positive since mid-October, suggesting that the longs have been the dominant force in the sector.<\/p>\n
Around the start of the year, the metric’s value had hit especially high levels, but after all the volatile price action BTC has seen since then, the indicator has considerably cooled off.<\/p>\n
The funding rates have still been at positive levels recently, however, implying that traders haven’t given up on their bullish sentiment just yet. This may not entirely be ideal for the asset to rebound.<\/p>\n
According to the quant, for the ongoing Bitcoin downtrend to end, “we need to wait for a capitulation signal from market participants.” In the chart, the analyst has highlighted the last few instances such a capitulation<\/a> signal appeared for the cryptocurrency.<\/p>\n
Such negative spikes for the funding rate imply that the traders have become overly pessimistic about the market. Historically, BTC has tended to move against the expectations of the majority, so it’s not surprising that bottoms have been more likely to form when the traders have been highly bearish about the asset.<\/p>\n
Related Reading: XRP Buy Signal That Resulted In 60% Rally Has Gone Off Again<\/a><\/div>\n
Red spikes in the indicator like those shown in the chart may not always perfectly coincide with a low in the price, but they are still nonetheless a sign that tides could change for the coin.<\/p>\n
At present, the Bitcoin funding rates are still at positive levels, so some more downtrend may need to occur in the price, before these longs are liquidated and the futures balance shifts towards the other side.<\/p>\n
BTC Price<\/h2>\n
Bitcoin had plunged under the $39,000<\/a> mark just yesterday, but the coin appears to have bounced back today as it’s now once again floating above $40,000.<\/p>\n
\"Bitcoin<\/p>\n
The price of the asset seems to have made some recovery over the past day | Source: BTCUSD on TradingView<\/a><\/pre>\n
Featured image from Shutterstock.com, charts from TradingView.com, CryptoQuant.com<\/div>\n","protected":false},"excerpt":{"rendered":"
An analyst has explained that a futures market signal could be one to wait for before the latest Bitcoin drawdown can finish. Bitcoin Funding Rates Are Still In The Positive Territory As pointed out by an analyst in a CryptoQuant Quicktake post, the BTC funding rate has been reducing recently, but it’s still at positive levels. The “funding rate” refers to an indicator that keeps track of the amount of periodic fee that futures contract holders are exchanging between each other currently. When the value of this metric is positive, it means that the long traders are paying a premium to the short holders right now in order to hold onto their positions. Such a trend suggests that a bullish mentality is dominant in the futures market. Related Reading: Analyst Says \u201cRapid Price Recovery\u201d Is Likely For Bitcoin, Here\u2019s Why On the other hand, the indicator being negative implies a bearish sentiment may be shared by the majority of the traders as the shorts are outweighing the longs at the moment. Now, here is a chart that shows the trend in the Bitcoin funding rate over the past year: Looks like the value of the metric has been positive in recent days | Source: CryptoQuant As displayed in the above graph, the Bitcoin funding rate has been almost entirely positive since mid-October, suggesting that the longs have been the dominant force in the sector. Around the start of the year, the metric’s value had hit especially high levels, but after all the volatile price action BTC has seen since then, the indicator has considerably cooled off. The funding rates have still been at positive levels recently, however, implying that traders haven’t given up on their bullish sentiment just yet. This may not entirely be ideal for the asset to rebound. According to the quant, for the ongoing Bitcoin downtrend to end, “we need to wait for a capitulation signal from market participants.” In the chart, the analyst has highlighted the last few instances such a capitulation signal appeared for the cryptocurrency. Such negative spikes for the funding rate imply that the traders have become overly pessimistic about the market. Historically, BTC has tended to move against the expectations of the majority, so it’s not surprising that bottoms have been more likely to form when the traders have been highly bearish about the asset. Related Reading: XRP Buy Signal That Resulted In 60% Rally Has Gone Off Again Red spikes in the indicator like those shown in the chart may not always perfectly coincide with a low in the price, but they are still nonetheless a sign that tides could change for the coin. At present, the Bitcoin funding rates are still at positive levels, so some more downtrend may need to occur in the price, before these longs are liquidated and the futures balance shifts towards the other side. BTC Price Bitcoin had plunged under the $39,000 mark just yesterday, but the coin appears to have bounced back today as it’s now once again floating above $40,000. The price of the asset seems to have made some recovery over the past day | Source: BTCUSD on TradingView Featured image from Shutterstock.com, charts from TradingView.com, CryptoQuant.com<\/p>\n","protected":false},"author":542,"featured_media":571189,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,27251,5048,83651,569,1119,1144],"class_list":["post-571155","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-bottom","tag-bitcoin-downtrend","tag-bitcoin-funding-rates","tag-bitcoin-futures","tag-btc","tag-btcusd"],"acf":[],"yoast_head":"\nWhen Will Bitcoin Downtrend End? This Signal Could Be One To Watch<\/title>\n<meta name=\"description\" content=\"An analyst has explained that a futures market signal could be one to wait for before the latest Bitcoin drawdown can finish.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ktsl888.com\/news\/bitcoin-downtrend-end-signal-one-watch\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"When Will Bitcoin Downtrend End? 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Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to. In terms of official educational qualifications, Keshav holds a bachelor\u2019s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions. Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true. Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn\u2019t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment.. Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form. Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new. As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. 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Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to. In terms of official educational qualifications, Keshav holds a bachelor\u2019s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions. Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true. Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn\u2019t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment.. Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form. Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new. As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money. Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn\u2019t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs. Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.","sameAs":["https:\/\/www.linkedin.com\/in\/keshavverma29\/","https:\/\/x.com\/https:\/\/twitter.com\/keshavvarma29"],"url":"https:\/\/ktsl888.com\/author\/hououinkyouma29\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"When Will Bitcoin Downtrend End? 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