$BTC funding rates have hit their most negative levels since 2023, per Glassnode.


{future}(BTCUSDT)
Historically, deeply negative funding rates have coincided with local bottoms, including March 2020, mid-2021 and the FTX collapse in 2022.
BTC5,22%
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GateUser-9ccf7051
· 3h ago
I'm more concerned about whether the on-chain chips are moving downward; just looking at funding can easily be misled into entering the market.
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Hermit96
· 4h ago
The World Cup will definitely bring a wave of clutch moments.
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GateUser-1c8a1331
· 8h ago
To the moon and back
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FeeFiFoFum
· 10h ago
History rhymes but doesn't copy; references are okay, risk control first.
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EbbShellLedger
· 10h ago
Taking spot gradually is fine, but don't get caught up in futures. Extremely negative funding rates often just shake people out first.
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BetaTestHuman
· 10h ago
2020/2021/FTX those few times indeed were near the bottom, but don't forget it might also come down for another test first.
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OldBlackVelvetKey
· 10h ago
There is a high risk of short squeezing at this time; just a slight rally can trigger a chain of liquidations.
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NonceNinja
· 10h ago
Once this chart from Glassnode is out, it feels like another classic moment of "Fear in others, greed in me."
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ForkingDrama
· 10h ago
Negative funding does not mean an immediate reversal, but it indicates low short-selling costs and a bearish sentiment, often not far from the stage bottom.
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TAKD
· 10h ago
Thanks
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