๐ฎ Bitcoin saw an enormous jump to ~$90,087 on @coinbase 2 hours ago before quickly sliding back to its current ~$86,580 market value. Bitcoinโs rising positive funding rates on exchanges signals more leveraged long positions, which historically has led to sharp liquidations and higher volatility, including recent tops and pullbacks.
๐ Ethereum contrasts this trend, with shorts outweighing longs for now, suggesting weaker bullish conviction and less risk dynamics than $BTC. But all assets will still move with Bitcoin, meaning Bitcoin's funding rates must stay neutral or go negative in order to justify a clear path back to $100K and for altcoins to rebound.
๐ง Track the total aggregated funding rates for Bitcoin & Ethereum any time with this helpful chart dashboard. ๐
app.santiment.net/s/iUiEzzfd?u...โฆ
