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KuCoin’s Bitcoin funding rate soars to 22%, suggesting bullish sentiment

December 15, 2023
in Crypto Exchanges
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Fast Take

The supplied graph showcases Bitcoin’s (BTC) funding charges on varied digital asset exchanges, signaling the market sentiment by illustrating a 7-day moving-average annual share yield (APY). Noteworthy is KuCoin’s considerably larger funding price at 22% APY, based on The Block, a optimistic quantity that implies a bullish sentiment. This price implies lengthy place holders are paying a premium to maintain their trades open, indicative of an expectation that Bitcoin’s worth will rise.

Different exchanges aren’t far behind, every exhibiting a roughly 5% premium within the funding charges. As soon as once more, this can be a optimistic signal, indicating a normal bullish sentiment throughout a number of platforms. Merchants appear prepared to pay this premium primarily based on an expectation of Bitcoin’s worth growing sooner or later.

BTC Funding Charges: (Supply: The Block)

The info additionally hints at a historic development from March 2023, the place the same bullish sentiment was noticed, suggesting it was a neighborhood prime for Bitcoin at round $30,000. Nonetheless, a phrase of warning: these excessive funding charges may additionally point out over-leverage out there. In such situations, a lot of the market is prepared to pay a premium to keep up lengthy positions, and this might typically be a precursor to a market pullback or worth correction.

BTCUSD: (Source: Trading View)
BTCUSD: (Supply: Buying and selling View)

The publish KuCoin’s Bitcoin funding price soars to 22%, suggesting bullish sentiment appeared first on CryptoSlate.



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Tags: BitcoinBullishFundingKuCoinsRateSentimentSoarssuggesting
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