K33 Analysis: The consecutive negative fee rate period for Bitcoin is similar to past bottoming periods, and the likelihood of a breakout is increasing.

ME News Report, April 15 (UTC+8), K33 Research Director Vetle Lunde pointed out in a new report that the 30-day average funding rate for Bitcoin derivatives has been negative for 46 consecutive days, which is consistent with the duration of negative funding rates near the bottom of the bear market in late 2022. As recent funding rate tightening and an unusually persistent negative interest rate environment continue, he believes that the possibility of Bitcoin reaching new highs and breaking through a 68-day consolidation is increasing. Lunde noted that the nominal open interest is rising, Bitcoin prices are increasing, and periods when the daily, 7-day, and 30-day average funding rates remain negative often occur near consolidation bottoms. (Source: Foresight News)