{"id":478328,"date":"2021-12-07T19:00:13","date_gmt":"2021-12-07T19:00:13","guid":{"rendered":"https:\/\/wncen.com\/?p=478328"},"modified":"2024-06-11T06:51:55","modified_gmt":"2024-06-11T06:51:55","slug":"bitcoin-funding-rates-turn-negative-in-sentiment-reset","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-funding-rates-turn-negative-in-sentiment-reset\/","title":{"rendered":"Bitcoin Funding Rates Turn Negative In Sentiment Reset"},"content":{"rendered":"

Data shows following the crash, Bitcoin funding rates flipped to negative for the first time since September as market sentiment resets.<\/p>\n

Bitcoin Funding Rates Turn Negative For The First Time Since Late September<\/h2>\n

As per the latest weekly report from Glassnode<\/a>, market sentiment reset after the latest crash in BTC’s price as funding rates turned negative.<\/p>\n

The “perpetual funding rate<\/a>” is an indicator that measures the periodic fee that Bitcoin futures traders have to pay each other to keep their positions. This metric helps us know about which direction leveraged positions tend to.<\/p>\n

When the indicator’s value is negative, it means short traders are currently paying long traders to hold on to their position. Such a trend may show that the market sentiment is bearish on the price of BTC.<\/p>\n

On the other hand, if the metric’s value is positive, it means the market shares a majority bullish bias as long traders pay a premium to the short traders.<\/p>\n

Now, here is a chart that shows the trend in the Bitcoin funding rates over the past six months:<\/p>\n

\"Bitcoin<\/p>\n

Looks like the funding rates dipped to negative recently | Source: The Glassnode Week Onchain (Week 49)<\/a><\/pre>\n
As you can see in the above graph, the funding rates have been positive for many months now, but following the crash they have turned negative.<\/p>\n
Related Reading |\u00a0Understanding Bitcoin UTXO: Mid-To-Long Term Holders Responsible For November Correction<\/a><\/strong><\/em><\/p>\n
The reason for this switch is that due to the crash, there was a cascade of long liquidations. This kind of situation can push the funding rates down and to the opposite side.<\/p>\n
These long liquidations<\/a> resulted in the open interest being flushed of $5.4 billion in futures contracts. And subsequently, the funding rates declined to around -0.035%.<\/p>\n
While this is the first time since late September that the funding rates have turned negative, such highly negative values were only seen back in July.<\/p>\n
Related Reading |\u00a0Data Shows Bitcoin Short-Term Holders Have Started To Sell At A Loss<\/a><\/strong><\/em><\/p>\n
This flip to negative means that the Bitcoin market sentiment has now been reset.<\/p>\n
BTC Price<\/h2>\n
At the time of writing, Bitcoin’s price<\/a> floats around $51.3k, down 12% in the last seven days. Over the past month, the crypto has lost 16% in value.<\/p>\n
The below chart shows the trend in the price of the crypto over the last five days.<\/p>\n
\"Bitcoin<\/p>\n
BTC's price recovers a bit from the crash in the past 24 hours | Source: BTCUSD on TradingView<\/a><\/pre>\n
A few days back, Bitcoin’s price crashed down to $42k. Quickly after, it recovered a bit to higher levels, and then consolidated for a couple of days. In the past day, the coin has shown some recovery as it has once again broke above $51k.<\/p>\n
Featured image from Unsplash.com, charts from TradingView.com, Glassnode<\/pre>\n","protected":false},"excerpt":{"rendered":"
Data shows following the crash, Bitcoin funding rates flipped to negative for the first time since September as market sentiment resets. Bitcoin Funding Rates Turn Negative For The First Time Since Late September As per the latest weekly report from Glassnode, market sentiment reset after the latest crash in BTC’s price as funding rates turned negative. The “perpetual funding rate” is an indicator that measures the periodic fee that Bitcoin futures traders have to pay each other to keep their positions. This metric helps us know about which direction leveraged positions tend to. When the indicator’s value is negative, it means short traders are currently paying long traders to hold on to their position. Such a trend may show that the market sentiment is bearish on the price of BTC. On the other hand, if the metric’s value is positive, it means the market shares a majority bullish bias as long traders pay a premium to the short traders. Now, here is a chart that shows the trend in the Bitcoin funding rates over the past six months: Looks like the funding rates dipped to negative recently | Source: The Glassnode Week Onchain (Week 49) As you can see in the above graph, the funding rates have been positive for many months now, but following the crash they have turned negative. Related Reading |\u00a0Understanding Bitcoin UTXO: Mid-To-Long Term Holders Responsible For November Correction The reason for this switch is that due to the crash, there was a cascade of long liquidations. This kind of situation can push the funding rates down and to the opposite side. These long liquidations resulted in the open interest being flushed of $5.4 billion in futures contracts. And subsequently, the funding rates declined to around -0.035%. While this is the first time since late September that the funding rates have turned negative, such highly negative values were only seen back in July. Related Reading |\u00a0Data Shows Bitcoin Short-Term Holders Have Started To Sell At A Loss This flip to negative means that the Bitcoin market sentiment has now been reset. BTC Price At the time of writing, Bitcoin’s price floats around $51.3k, down 12% in the last seven days. Over the past month, the crypto has lost 16% in value. The below chart shows the trend in the price of the crypto over the last five days. BTC’s price recovers a bit from the crash in the past 24 hours | Source: BTCUSD on TradingView A few days back, Bitcoin’s price crashed down to $42k. Quickly after, it recovered a bit to higher levels, and then consolidated for a couple of days. In the past day, the coin has shown some recovery as it has once again broke above $51k. Featured image from Unsplash.com, charts from TradingView.com, Glassnode<\/p>\n","protected":false},"author":542,"featured_media":478347,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,506,83651,1119,1144],"class_list":["post-478328","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-crash","tag-bitcoin-funding-rates","tag-btc","tag-btcusd"],"acf":[],"yoast_head":"\nBitcoin Funding Rates Turn Negative In Sentiment Reset<\/title>\n<meta name=\"description\" content=\"Data shows following the crash, Bitcoin funding rates flipped to negative for the first time since September as market sentiment resets. 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Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to. In terms of official educational qualifications, Keshav holds a bachelor\u2019s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions. Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true. Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn\u2019t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment.. Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form. Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new. As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money. Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn\u2019t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs. Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.","sameAs":["https:\/\/www.linkedin.com\/in\/keshavverma29\/","https:\/\/x.com\/https:\/\/twitter.com\/keshavvarma29"],"url":"https:\/\/wncen.com\/author\/hououinkyouma29\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Funding Rates Turn Negative In Sentiment Reset","url":"http:\/\/wncen.com\/news\/bitcoin-funding-rates-turn-negative-in-sentiment-reset\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-funding-rates-turn-negative-in-sentiment-reset\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/12\/executium-xvqbivyHlxc-unsplash-scaled.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/12\/executium-xvqbivyHlxc-unsplash-scaled.jpg?fit=2560%2C1703"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Keshav Verma"}],"creator":["Keshav Verma"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin crash","bitcoin funding rates","btc","btcusd"],"dateCreated":"2021-12-07T19:00:13Z","datePublished":"2021-12-07T19:00:13Z","dateModified":"2024-06-11T06:51:55Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Funding Rates Turn Negative In Sentiment Reset\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-funding-rates-turn-negative-in-sentiment-reset\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-funding-rates-turn-negative-in-sentiment-reset\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/12\\\/executium-xvqbivyHlxc-unsplash-scaled.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/12\\\/executium-xvqbivyHlxc-unsplash-scaled.jpg?fit=2560%2C1703\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Keshav Verma\"}],\"creator\":[\"Keshav Verma\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin crash\",\"bitcoin funding rates\",\"btc\",\"btcusd\"],\"dateCreated\":\"2021-12-07T19:00:13Z\",\"datePublished\":\"2021-12-07T19:00:13Z\",\"dateModified\":\"2024-06-11T06:51:55Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/12\/executium-xvqbivyHlxc-unsplash-scaled.jpg?fit=2560%2C1703","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/478328"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/542"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=478328"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/478328\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/478347"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=478328"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=478328"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=478328"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}