{"id":500752,"date":"2022-09-01T23:00:25","date_gmt":"2022-09-01T23:00:25","guid":{"rendered":"https:\/\/wncen.com\/?p=500752"},"modified":"2024-06-11T14:23:15","modified_gmt":"2024-06-11T14:23:15","slug":"bitcoin-marks-9th-consecutive-month-of-sluggish-funding-rates","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-marks-9th-consecutive-month-of-sluggish-funding-rates\/","title":{"rendered":"Bitcoin Marks 9th Consecutive Month Of Sluggish Funding Rates"},"content":{"rendered":"<p class=\"p2\">Bitcoin funding rates for the past two months have entered one of their worst streaks yet. During this time, there have been no positive funding rates, and the best that the market has seen has been funding rates at a neutral level. However, even now, reaching neutral levels have proved incredibly hard for funding rates, taking a deeper dive with each passing week.<\/p>\n<h2 class=\"p2\">Funding Rates Remain Below Neutral<\/h2>\n<p class=\"p2\">The last time bitcoin funding rates had been in the neutral territory had been at the beginning of August. Since then, funding rates have consistently returned below neutral, with some short-term lows being recorded along the way. Funding rates on crypto exchange Binance have actually dropped to 2-month lows at this point. Additionally, the crypto exchange has now hit nine months of funding rates at or below neutral levels.<\/p>\n<div class=\"related-reading-shortcode\" style=\"text-align: center\"><em><strong>Related Reading: <a href=\"https:\/\/wncen.com\/news\/bitcoin\/bearish-indicator-bitcoin-short-exposure-surge-to-new-all-time-high\/\">Bearish Indicator: Bitcoin Short Exposure Surge To New All-Time High<\/a><\/strong><\/em><\/div>\n<p class=\"p2\">This puts the perpetual swaps at a continuously lower rate compared to spot market prices. Bitcoin traders have since been reducing their risk exposure to the digital asset, and this has come as a culmination of such wariness.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-500757 aligncenter\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/09\/bitcoin-funding-rates.png?resize=460%2C331\" alt=\"bitcoin funding rates\" width=\"460\" height=\"331\"><\/p>\n<pre style=\"text-align: center\">Funding rates remain below neutral | Source: <a href=\"https:\/\/arcane.no\/research\" rel=\"nofollow\">Arcane Research<\/a><\/pre>\n<p class=\"p2\">It is the most bearish that the market has been since the bull market was triggered in 2020. This even comes despite the fact that bitcoin open interest has been seeing higher levels. On Tuesday, the bitcoin funding rates sat at around 0.00% and had touched a 2-month low earlier in the week.<\/p>\n<h2 class=\"p2\">Bitcoin Open Interest Grows<\/h2>\n<p class=\"p2\">Bitcoin open interest has maintained a consistent growth rate despite the funding rates taking a nosedive at each possible point. Each week has seen open interest either hit a new all-time high or come close to reaching it. The former was the case last week.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium\" src=\"https:\/\/www.tradingview.com\/x\/PPZyrO6L\/\" alt=\"Bitcoin price chart from TradingView.com\" width=\"3284\" height=\"1646\"><\/p>\n<pre style=\"text-align: center\">BTC trading below $20,000 | Source: <a href=\"http:\/\/TradingView.com\" rel=\"nofollow\">BTCUSD on TradingView.com<\/a><\/pre>\n<p class=\"p2\">This time around, open interest had a brand new all-time high of 398,075 BTC on August 29th. This is more than 2% of the total BTC circulating supply. It is up significantly from its lowest point last year of 186,158 BTC, representing a more than 110% growth in this time.<\/p>\n<div class=\"related-reading-shortcode\" style=\"text-align: center\"><em><strong>Related Reading: <a href=\"https:\/\/wncen.com\/news\/bitcoin\/altcoins-outperform-bitcoin-in-august-rollercoaster\/\">Altcoins Outperform Bitcoin In August Rollercoaster<\/a><\/strong><\/em><\/div>\n<p class=\"p2\">With the open interest so high and funding rates so low, it leaves room for the possibility of a short squeeze. This unusual market has not been ignored by investors, leading them to take up more conservative positions.<\/p>\n<p class=\"p2\">Bitcoin\u2019s price has also not been encouraging. After hitting a new local high of $25,000 about a week ago, the digital asset is now struggling to hold above $20,000.<\/p>\n<pre style=\"text-align: center\">Featured image from RushRadar, charts from Arcane Research and TradingView.com<\/pre>\n<p><span class=\"s1\"><b><i>Follow <\/i><\/b><a href=\"https:\/\/twitter.com\/BestOwie\" rel=\"nofollow\"><b><i>Best Owie on Twitter<\/i><\/b><\/a><b><i> for market insights, updates, and the occasional funny tweet\u2026<\/i><\/b><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin funding rates for the past two months have entered one of their worst streaks yet. During this time, there have been no positive funding rates, and the best that the market has seen has been funding rates at a neutral level. However, even now, reaching neutral levels have proved incredibly hard for funding rates, taking a deeper dive with each passing week. Funding Rates Remain Below Neutral The last time bitcoin funding rates had been in the neutral territory had been at the beginning of August. Since then, funding rates have consistently returned below neutral, with some short-term lows being recorded along the way. Funding rates on crypto exchange Binance have actually dropped to 2-month lows at this point. Additionally, the crypto exchange has now hit nine months of funding rates at or below neutral levels. Related Reading: Bearish Indicator: Bitcoin Short Exposure Surge To New All-Time High This puts the perpetual swaps at a continuously lower rate compared to spot market prices. Bitcoin traders have since been reducing their risk exposure to the digital asset, and this has come as a culmination of such wariness. Funding rates remain below neutral | Source: Arcane Research It is the most bearish that the market has been since the bull market was triggered in 2020. This even comes despite the fact that bitcoin open interest has been seeing higher levels. On Tuesday, the bitcoin funding rates sat at around 0.00% and had touched a 2-month low earlier in the week. Bitcoin Open Interest Grows Bitcoin open interest has maintained a consistent growth rate despite the funding rates taking a nosedive at each possible point. Each week has seen open interest either hit a new all-time high or come close to reaching it. The former was the case last week. BTC trading below $20,000 | Source: BTCUSD on TradingView.com This time around, open interest had a brand new all-time high of 398,075 BTC on August 29th. This is more than 2% of the total BTC circulating supply. It is up significantly from its lowest point last year of 186,158 BTC, representing a more than 110% growth in this time. Related Reading: Altcoins Outperform Bitcoin In August Rollercoaster With the open interest so high and funding rates so low, it leaves room for the possibility of a short squeeze. This unusual market has not been ignored by investors, leading them to take up more conservative positions. Bitcoin\u2019s price has also not been encouraging. After hitting a new local high of $25,000 about a week ago, the digital asset is now struggling to hold above $20,000. Featured image from RushRadar, charts from Arcane Research and TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet\u2026<\/p>\n","protected":false},"author":541,"featured_media":500758,"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":[428,83651,84667,1119,1144,85950,54146],"class_list":["post-500752","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-funding-rates","tag-bitcoin-open-interest","tag-btc","tag-btcusd","tag-funding-rates","tag-open-interest"],"acf":[],"yoast_head":"\n<title>Bitcoin Marks 9th Consecutive Month Of Sluggish Funding Rates<\/title>\n<meta name=\"description\" content=\"Bitcoin funding rates for the past two months have entered one of their worst streaks yet. 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Best is a highly skilled professional with a track record of producing engaging and informative content. With a keen eye for detail and a passion for accuracy, Best is committed to ensuring that each article published meets the highest standards of quality. Best has over six years of experience in the crypto industry and has overseen the creation and publishing of thousands of articles over the years. Best is always abreast of everything that is going on in the crypto industry in order to create and curate the most relevant content for readers. This shines through in Best\u2019s publications, which are always clear and concise, enabling easy reading and understanding for all. Best is also an avid learner and advocate for new technology. This has seen Best dive into topics in areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), Layer 2 blockchains, etc. In addition to this, Best is a vocal member of the crypto community across various social media platforms such as X and Reddit. Best\u2019s work garners tens of thousands of readers monthly, who rely on the information in these publications to keep up-to-date with everything happening in the crypto community. Best\u2019s articles explore breaking news, intricate systems such as yield farming, liquidity pools, and other decentralized finance (DeFi) systems. This is because Best understands the importance of information to gaining financial freedom and believes that everyone should have access to this information. Best also believes in leveraging the blockchain for philanthropy to create the most positive social impact. This involves work with charitable organizations focused on financial literacy and education. With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity. When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world\u2019s most quiet and well-behaved Husky. Best\u2019s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well. As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers. Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. Best\u2019s prolific career in the media industry is a testament of how hard work and dedication pays.","sameAs":["https:\/\/www.linkedin.com\/in\/best-owie-41a150178\/","https:\/\/x.com\/https:\/\/twitter.com\/BestOwie"],"url":"https:\/\/wncen.com\/author\/owiebest\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Marks 9th Consecutive Month Of Sluggish Funding Rates","url":"http:\/\/wncen.com\/news\/bitcoin-marks-9th-consecutive-month-of-sluggish-funding-rates\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-marks-9th-consecutive-month-of-sluggish-funding-rates\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/09\/bitcoin-1.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/09\/bitcoin-1.png?fit=654%2C418"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Best Owie"}],"creator":["Best Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin funding rates","bitcoin open interest","btc","btcusd","funding rates","open interest"],"dateCreated":"2022-09-01T23:00:25Z","datePublished":"2022-09-01T23:00:25Z","dateModified":"2024-06-11T14:23:15Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Marks 9th Consecutive Month Of Sluggish Funding Rates\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-marks-9th-consecutive-month-of-sluggish-funding-rates\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-marks-9th-consecutive-month-of-sluggish-funding-rates\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/09\\\/bitcoin-1.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/09\\\/bitcoin-1.png?fit=654%2C418\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Best Owie\"}],\"creator\":[\"Best Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin funding rates\",\"bitcoin open interest\",\"btc\",\"btcusd\",\"funding rates\",\"open interest\"],\"dateCreated\":\"2022-09-01T23:00:25Z\",\"datePublished\":\"2022-09-01T23:00:25Z\",\"dateModified\":\"2024-06-11T14:23:15Z\"}<\/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\/2022\/09\/bitcoin-1.png?fit=654%2C418","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/500752","targetHints":{"allow":["GET"]}}],"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\/541"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=500752"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/500752\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/500758"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=500752"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=500752"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=500752"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}