{"id":601369,"date":"2024-04-04T14:00:17","date_gmt":"2024-04-04T14:00:17","guid":{"rendered":"https:\/\/wncen.com\/?p=601369"},"modified":"2024-04-04T12:26:09","modified_gmt":"2024-04-04T12:26:09","slug":"trouble-ahead-binance-coin-futures-market-under-pressure-with-negative-funding-rates","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/trouble-ahead-binance-coin-futures-market-under-pressure-with-negative-funding-rates\/","title":{"rendered":"Trouble Ahead? Binance Coin Futures Market Under Pressure With Negative Funding Rates"},"content":{"rendered":"

The outlook for Binance Coin (BNB) has turned cloudy, with both futures market data and technical indicators flashing bearish signals. Based on our analysis of Coinglass data,<\/a> negative funding rates and declining open interest in BNB futures contracts paint a picture of growing pessimism among traders.<\/p>\n

Related Reading: XRP Battle Cry: Must Rally 70% To Reconquer $1 Peak After Market Turmoil<\/a><\/div>\n

A negative funding rate suggests that more traders are holding short positions, anticipating a decline in the price of the asset. This sentiment was confirmed on April 1st, when BNB’s funding rate dipped into negative territory at -0.012%.<\/p>\n

Binance Coin Funding Rate And Open Interest Down<\/h2>\n

Further fueling the bearish narrative, BNB’s futures open interest has also witnessed a slight decline of 0.15%. Open interest reflects the total amount of outstanding futures contracts that haven’t been settled yet.<\/p>\n

A decrease in open interest suggests traders are exiting their positions without opening new ones, potentially signaling waning confidence in the market.<\/p>\n

\"\"<\/p>\n

Source: Coinglass<\/a><\/pre>\n
Funding rates are a crucial mechanism in perpetual futures contracts that keep the contract price aligned with the spot price. When the contract price trades higher than the spot price, long position holders pay a fee to shorts, resulting in positive funding rates.<\/p>\n
Conversely, negative funding rates materialize when the contract price dips below the spot price, indicating that short sellers are currently paying fees to longs.<\/p>\n
\"\"<\/p>\n
Source: Coinglass<\/a><\/pre>\n
More Traders Close Their Positions<\/h2>\n
As negative sentiments mount, this open interest is expected to plummet further. This would imply that more traders are closing their positions and not opening new ones, suggesting a potential price drop for BNB.<\/p>\n
The bearish sentiment isn’t confined to the futures market.\u00a0The Moving Average Convergence Divergence (MACD), another technical indicator, is suggesting a possible resurgence in selling pressure.<\/p>\n
There’s an indication that the MACD line might cross below the signal line, typically interpreted as a bearish sign signaling the return of sellers to the market. It’s noteworthy that since March 18th, the MACD lines for BNB have been positioned for a downtrend.<\/p>\n
<\/p>\n
BNB market cap currently at $87.9 billion. Chart: TradingView.com<\/a><\/pre>\n
BNB Price Retreat In The Offing?<\/h3>\n
Considering both the futures market and technical analysis, there’s a potential for a short-term decline in BNB’s price. However, it’s important to acknowledge that market sentiment can shift rapidly, and technical indicators aren’t infallible predictors of future price movements.<\/p>\n
At the time of writing, BNB was trading at $587<\/a>, up 6% in the last 24 hours, data from CoinMarketCap shows.<\/p>\n
Related Reading: Fear Grips XRP Market As Liquidations Top $6 Million \u2013 Details<\/a><\/div>\n
Meanwhile, a closer look at BNB’s technical indicators on the 24-hour chart reveals another trend.<\/p>\n
The Directional Movement Index (DMI), used to gauge trend strength, displayed a bearish crossover where the negative directional index sits above the positive directional index. This positioning suggests that bearish momentum is currently dominating the market.<\/p>\n
Analysts commonly interpret this particular crossover as an imperative signal prompting traders to consider exiting long positions and initiating short positions.<\/p>\n
This strategic move aligns with the prevailing trend indicated by the DMI, reinforcing the notion of a prevailing bearish sentiment within the market ecosystem.<\/p>\n
Featured image from Pexels, chart from TradingView<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
The outlook for Binance Coin (BNB) has turned cloudy, with both futures market data and technical indicators flashing bearish signals. Based on our analysis of Coinglass data, negative funding rates and declining open interest in BNB futures contracts paint a picture of growing pessimism among traders. Related Reading: XRP Battle Cry: Must Rally 70% To Reconquer $1 Peak After Market Turmoil A negative funding rate suggests that more traders are holding short positions, anticipating a decline in the price of the asset. This sentiment was confirmed on April 1st, when BNB’s funding rate dipped into negative territory at -0.012%. Binance Coin Funding Rate And Open Interest Down Further fueling the bearish narrative, BNB’s futures open interest has also witnessed a slight decline of 0.15%. Open interest reflects the total amount of outstanding futures contracts that haven’t been settled yet. A decrease in open interest suggests traders are exiting their positions without opening new ones, potentially signaling waning confidence in the market. Source: Coinglass Funding rates are a crucial mechanism in perpetual futures contracts that keep the contract price aligned with the spot price. When the contract price trades higher than the spot price, long position holders pay a fee to shorts, resulting in positive funding rates. Conversely, negative funding rates materialize when the contract price dips below the spot price, indicating that short sellers are currently paying fees to longs. Source: Coinglass More Traders Close Their Positions As negative sentiments mount, this open interest is expected to plummet further. This would imply that more traders are closing their positions and not opening new ones, suggesting a potential price drop for BNB. The bearish sentiment isn’t confined to the futures market.\u00a0The Moving Average Convergence Divergence (MACD), another technical indicator, is suggesting a possible resurgence in selling pressure. There’s an indication that the MACD line might cross below the signal line, typically interpreted as a bearish sign signaling the return of sellers to the market. It’s noteworthy that since March 18th, the MACD lines for BNB have been positioned for a downtrend. BNB market cap currently at $87.9 billion. Chart: TradingView.com BNB Price Retreat In The Offing? Considering both the futures market and technical analysis, there’s a potential for a short-term decline in BNB’s price. However, it’s important to acknowledge that market sentiment can shift rapidly, and technical indicators aren’t infallible predictors of future price movements. At the time of writing, BNB was trading at $587, up 6% in the last 24 hours, data from CoinMarketCap shows. Related Reading: Fear Grips XRP Market As Liquidations Top $6 Million \u2013 Details Meanwhile, a closer look at BNB’s technical indicators on the 24-hour chart reveals another trend. The Directional Movement Index (DMI), used to gauge trend strength, displayed a bearish crossover where the negative directional index sits above the positive directional index. This positioning suggests that bearish momentum is currently dominating the market. Analysts commonly interpret this particular crossover as an imperative signal prompting traders to consider exiting long positions and initiating short positions. This strategic move aligns with the prevailing trend indicated by the DMI, reinforcing the notion of a prevailing bearish sentiment within the market ecosystem. Featured image from Pexels, chart from TradingView<\/p>\n","protected":false},"author":557,"featured_media":601393,"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":[134,13291,11427,6664],"class_list":["post-601369","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoin","tag-binance-coin","tag-bnb","tag-crypto"],"acf":[],"yoast_head":"\nBinance Coin Under Pressure With Negative Funding Rates<\/title>\n<meta name=\"description\" content=\"The outlook for Binance Coin (BNB) has turned cloudy, with both futures market data and technical indicators flashing bearish signals. 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/wncen.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Trouble Ahead? 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