In a market where sentiment is uncertain, funding rates on perpetual futures on bitcoin $BTC and ether $ETH can be a key metric. GWilliamsJr_CMT and liqquidity report
Perpetual futures funding rates remain positive for both bitcoin and ether, a sign that sentiment in the market remains positive for the moment.Perpetual funding rates represent payments within the futures markets between participants who are long or short the asset. When funding rates are positive, holders of long positions pay a fee to holders of short positions. When funding rates are negative, the opposite is the case.
The interpretation is that funding rates can often indicate bullish or bearish sentiment, with the former represented by positive rates, and the latter represented by negative ones. For bitcoin funding rates have been positive in 8 of the most recent 10 trading days. Ether by comparison has shown positive funding rates in 7 of the most recent days, declining to zero 3 times, but not falling below zero since April 6.
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