• TEXT= DATE: 25.07.2024 EVENT TITLE  |  SUBJECT  |  INFO
  • TIMER= 25.07.2024
  • BUTTON= FIND OUT MORE
  • bitcoinBitcoin (BTC) $ 42,977.00 0.18%
  • ethereumEthereum (ETH) $ 2,365.53 1.12%
  • tetherTether (USDT) $ 1.00 0.2%
  • bnbBNB (BNB) $ 302.66 0.19%
  • solanaSolana (SOL) $ 95.44 1.28%
  • xrpXRP (XRP) $ 0.501444 0.1%
  • usd-coinUSDC (USDC) $ 0.996294 0.34%
  • staked-etherLido Staked Ether (STETH) $ 2,367.26 1.4%
  • cardanoCardano (ADA) $ 0.481226 2.68%
  • avalanche-2Avalanche (AVAX) $ 34.37 1.19%
  • bitcoinBitcoin (BTC) $ 42,977.00 0.18%
    ethereumEthereum (ETH) $ 2,365.53 1.12%
    tetherTether (USDT) $ 1.00 0.2%
    bnbBNB (BNB) $ 302.66 0.19%
    solanaSolana (SOL) $ 95.44 1.28%
    xrpXRP (XRP) $ 0.501444 0.1%
    usd-coinUSDC (USDC) $ 0.996294 0.34%
    staked-etherLido Staked Ether (STETH) $ 2,367.26 1.4%
    cardanoCardano (ADA) $ 0.481226 2.68%
    avalanche-2Avalanche (AVAX) $ 34.37 1.19%
image-alt-13BTC Dominance: 51.25%
image-alt-14 ETH Dominance: 16.27%
image-alt-15 BTC/ETH Ratio: 13%
image-alt-16 Total Market Cap 24h: $1.65T
image-alt-17Volume 24h: $42.89B
image-alt-18 ETH Gas Price: 26 Gwei
 

KuCoin’s Bitcoin Funding Rate Soars to 22%, Suggesting Bullish Sentiment

This rate implies long position holders are paying a premium to keep their trades open, indicative of an expectation that Bitcoin’s price will rise...
Firefly Connected Vassels With Water Running With Bitcoin Coins 11109

Quick Take

The provided graph showcases Bitcoin’s (BTC) funding rates on various digital asset exchanges, signaling the market sentiment by illustrating a 7-day moving-average annual percentage yield (APY). Noteworthy is KuCoin’s significantly higher funding rate at 22% APY, according to The Block, a positive number that suggests a bullish sentiment. This rate implies long position holders are paying a premium to keep their trades open, indicative of an expectation that Bitcoin’s price will rise.

Other exchanges aren’t far behind, each showing a roughly 5% premium in the funding rates. Once again, this is a positive sign, indicating a general bullish sentiment across multiple platforms. Traders seem willing to pay this premium based on an expectation of Bitcoin’s price increasing in the future.

The data also hints at a historical trend from March 2023, where a similar bullish sentiment was observed, suggesting it was a local top for Bitcoin at around $30,000. However, a word of caution: these high funding rates could also indicate over-leverage in the market. In such scenarios, much of the market is willing to pay a premium to maintain long positions, and this could sometimes be a precursor to a market pullback or price correction.

 

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