Thus, funding rates moved towards the positive territory. Ergo, long traders took advantage of the leftover space from the short ones.
Nonetheless, social sentiment continues to form a blanket around Ethereum. As per LunarCrush, Ethereum’s social activityNegative to positive On the other hand, the largest cryptocurrency BTC’s funding rates flipped positive although the rate might not be significant enough. Nevertheless, long traders paid a premium to the short traders, at press time, in order to hold onto their positions.
The only question remains- Could Bitcoin possibly have further room to grow? Well, funding rates have been quite positive recently. Especially, when the price kept suffering- BTC lost more than 10% in just 24 hours after the CPI announcement.Subscribe to get it daily in your inbox.
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