[Analysis] Bitcoin (BTC), Sign of Bottoming Out?… "Surpassing Critical Level in Futures Funding Rate"

Image = CryptoQuant Quicktake Capture

Bitcoin (BTC) is analyzed to be bottoming out as the funding rate in the futures market rises.

On the 30th, Nino, an analyst at the virtual asset analysis platform CryptoQuant, stated in a Quicktake report, "Recently, the Bitcoin holdings and futures contract funding rate of Bitfinex have surpassed a critical level," adding, "Market participants are closely watching whether the price level will be the bottom."

The analyst added, "In the past, these indicators tended to rise once they surpassed a certain threshold," and "If Bitcoin does not fall below $93,000, the upward trend is likely to continue."

Funding rate represents the degree to which the long or short ratio in a futures exchange is skewed, reflecting the sentiment of futures investors. In the perpetual futures market, a positive funding rate implies bullish sentiment in the market, while a negative rate indicates bearish sentiment.