The Funding Rate was negative at the start of May when Bitcoin plummeted to $56k, but it has recovered since then.traders were going through a relatively tough period after the easy, straightforward rallies that have been the norm since last October.has been more complicated, but BTC’s halving event last month has changed the market conditions to chop and range formations all over the market.
The Funding Rate was negative at the start of May when Bitcoin plummeted to $56k. Since then, the Funding Rate has recovered. This did not repeat with Bitcoin despite a similar price bounce, which suggested that speculators were more eager to long ETH than BTC.The 7-day liquidation heatmap of Bitcoin showed a bright cluster of liquidations at the $60k area. To the north, $61.8k and $63k are the next bullish targets.
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