"Bitcoin Funding Rate Records First Negative This Year... Possible Short-Term Bottom"

Source=Glassnode

The funding rate for Bitcoin (BTC) perpetual futures has recorded its first negative this year. This has led to opinions that Bitcoin's price may have reached a bottom.

On the 9th (local time), CoinDesk reported, "For the first time this year, the funding rate for Bitcoin perpetual futures has turned negative," adding, "A negative funding rate generally signals a short-term bottom for Bitcoin prices." It continued, "The bottom in price appears when the futures funding rate becomes negative and short (sell) investors increase," noting, "Many short investors were liquidated during the early bull market in 2024 as well."