On-chain data shows the Bitcoin funding rates have observed a rise again, suggesting that another long squeeze may be in store for the crypto.
Bitcoin Funding Rates Show Relatively High Positive Value
As explained by an analyst in a CryptoQaunt post, the current positive funding rates may mean the price could observe a decline soon.
The “funding rate” is an indicator that measures the periodic fee that Bitcoin futures traders are paying each other.
When the value of this metric is greater than zero, it means long traders are paying a premium to short investors to hold on to their positions right now. This trend therefore suggests that the majority sentiment is bullish at the moment.
On the other hand, negative values of the indicator