Market sentiment has improved significantly since the week began. BTC’s price traded as high as $24,574 on Monday and forced the liquidation of about $81 million BTC short positions. With many betting in favor of further price growth, data fromProfit Calculator
Further, for the first time since SVIB’s collapse, BTC funding rates have turned positive. When an asset’s funding rates are positive, it indicates that the demand to go long is high. This can be seen as a bullish signal, suggesting that traders are willing to pay a premium to maintain their long positions.At press time, BTC’s weighted sentiment was a positive 5.958. If BTC sustains this level, prices could increase further.Subscribe to get it daily in your inbox.
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