Bitcoin funding rate still negative above $75K as long positions dey get liquidated
Bitcoin funding rate still negative even though BTC dey trade above $75K. After small dip below $75K, about $120M worth leveraged long futures dem liquidate for US session, while around $365M bearish liquidations since Monday don help weaken short-side collateral. Na why funding rate still dey negative—na more because forced positions dey unwind pass say market don change to bear.
Traders still note derivative context: intraday BTC moves don follow S&P 500, and failure to reclaim around $76K don cap derivatives optimism. Macro signals mixed to small supportive (weaker industrial production, softer durable goods, rising jobless claims). On demand side, US-listed spot Bitcoin ETFs get about $921M net inflows over five days, and MicroStrategy still dey accumulate. Options data (Deribit put-to-call premium) no show clear spike for downside hedging demand.
Net: persistent negative Bitcoin funding rate above $75K no be immediate bearish alarm; e mean shorts still dey get squeezed and upside fit hold, especially if BTC stabilize and funding slowly improve.
Bullish
Funding wey still negative as price dey hold above $75K na more like short-squeeze/’wall-of-worry’ setup than say market don turn bearish. Di latest detail—$120M long liquidations after di dip and about $365M bearish liquidations since Monday—help explain why Bitcoin funding rate still dey negative without breaking support. Meanwhile, spot demand strong cos about $921M net ETF inflows over five days and MicroStrategy still dey buy, and options no show clear jump for downside hedging. For trading, this one favour keep upside exposure or see dips as possible liquidation-driven chances, though if price no reclaim about $76K and macro soft, near-term volatility go remain high. If Bitcoin funding rate start to move towards less-negative and price stabilize, chances for consolidation with upward bias go increase; rapid funding normalization together with breakdown go be the key risk sign.