$BTC shows strongest performance in months as investors expect Fed pivot
has potentially caused a surge in positivity among investors as the funding rates across different derivatives trading platforms hit multi-month highs.
According to market data, investors are opening a high number of longs on the market, pushing funding rates on BTC higher, meaning that bulls have no other choice but to pay a high percentage to bears.Despite the fact that bulls have to pay higher interest in opening longs, the number of positions on the market is growing, showing that the majority of investors believe in an upward surge in volatility on Bitcoin.
Such a rapid sentiment change does look unusual, but at the same time, it could be justified. The main reason that might push the price of the firstThe rate hike cycle that has been taking place for more than six months has already pushed the financial market low enough to create a condition in which the Fed should start pivoting if the regulator is willing to avoid a further decline.
With the first tightening of the monetary policy at the beginning of the year, the Fed caused a massive outflow of funds from the cryptocurrency industry following decreasing risk demand.
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