Bitcoin funding rates had taken a plunge at the beginning of May. While this had not been a pronounced bear trend at that point, the price of BTC was already showing some signs of weakness. That weakness has now seen the digital asset plunge below $30,000 for the first time in 2022 and back up. However, funding rates that had returned to neutral had remained unmoved by this volatility in the market.
Bitcoin Funding Rates Are Unshaken
Bitcoin had seen some massive sell-offs around the $35,000 level. This was mainly triggered by investors panicking that they may lose more of their holdings and as such, had tried exiting the cryptocurrency to mitigate these losses. The resultant fear and liquidations that had erupted had worked together