Binance Futures Volume na $2.55T as BTC Funding Turn Negative
Binance futures volume hit $2.55 trillion for July, push global crypto derivatives volume to six-month high and dey represent over 50% of all CEX futures action. Competitors OKX and Bybit record $1.09 trillion (25% market share) and $929 billion (20%) respectively. Daily Binance futures trades climb to $134 billion on July 18, with $82 billion average; Bitcoin futures open interest rise to $88 billion mid-month, before fall back to $79 billion. Late July sell-off cause $1.5 billion liquidation and push BTC funding rates into negative, show say market dey bearish. Meanwhile, Binance monthly active addresses drop 57.5%, from 800,000 in June down to 340,000 by August, and overall crypto market cap fall from $4 trillion to $3.7 trillion. The sharp rise in Binance futures volume and high open interest hint say market volatility fit increase. Traders suppose watch BTC funding rates, leverage levels, and user activity when them dey assess short- and medium-term Bitcoin positions.
Bearish
Di record di Binance futures volume an increased open interest dey tok say market get high leverage and fit get big price swings. But di negative BTC funding rates plus di sharp fall for user activity show say bearish sentiment heavy, fit put pressure for Bitcoin price short term. For medium term, if high leverage continue, volatility fit increase but if no on-chain engagement increase again, di bearish momentum likely go continue. Traders suppose dey watch funding rates, open interest trends and liquidity well well to sabi market direction.