Aug 16, 02:00 PM

Bitcoin Funding Rates on Binance Hit 10-Month Low Amid Bearish Trend

Bitcoin funding rates on Binance have reached their lowest levels of 2024, remaining negative for three consecutive days. This bearish trend, last observed in October 2023, indicates a dominance of short positions over long positions. The current funding rate is at -15% annually, marking a significant drop to a 10-month low. Typically, positive funding rates range between 0.2% and 1.2% monthly, reflecting investor optimism. The recent negative rates suggest a bearish sentiment among investors.

#Bitcoin #Binance

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