Reported about 2 months ago
Recent indicators from the Bitcoin derivatives market suggest an increasing risk of a 'short squeeze', according to K33 Research. The current negative funding rates and a significant rise in open interest point to aggressive short positions, setting the stage for a potential abrupt price rally. This comes amid a generally bearish sentiment as Bitcoin struggles to maintain above $60,000, with the current funding rate being the lowest since March 2023.
Source: YAHOO