Bitcoin funding rates show bullish trend, with traders keen on long positions
On the other hand, the options volume has decreased by 39.73% to $625.97 million, while options open interest has grown slightly by 2.18% to $10.24 billion. A drop in options volume may suggest that fewer traders are looking to hedge their bets or speculate on Bitcoin's price movement.
Looking at the long/short ratios further accentuates the bullish stance. Binance BTC/USDT's account ratio stands at 1.6709 and OKX BTC's at 1.46, meaning that there are more long positions than short ones. These figures corroborate the idea that a majority of traders are expecting Bitcoin's price to surge.
A closer look at"rekt" data, which refers to the amount lost by traders due to sudden price changes, shows that more shorts have been liquidated than longs in the last 24 hours, implying that the market is currently favoring those who are bullish on
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