Yearn.finance (YFI) Tests Key Support as Funding Rates Flip Negative

Bitcoin has begun to consolidate above $13,000. Despite this bullish trend, most Bitcoin funding rates on leading futures exchanges currently are negative. The current Bitcoin futures funding rates are bearish on Binance, BitMEX, and OKEx. Bitcoin Funding Rates Still Negative Bitcoin has begun to consolidate above $13,000. $13,000 has long been an important level for Bitcoin, making this consolidation important for the bull case. The cryptocurrency currently trades for $13,500, above the aforementioned support level. […]

On-chain data shows the Bitcoin funding rates have mostly remained negative for more than a week now. If past trend is anything to go by, this may mean that a bottom could be near. Bitcoin Funding Rates Have Now Remained Mostly Negative For More Than Seven Days As pointed out by an analyst in a CryptoQuant post, the Bitcoin funding rates have been negative in the past week for the most part. The “funding rates” is an indicator that measures the periodic fee Bitcoin futures traders have to pay each other in order to hold onto their positions. When the value of this indicator is....

Prices have been declining across the crypto market and with it has come to a lot of doubt on the part of investors. This is reflected in the deposit and withdrawal trends recorded across the various crypto exchanges. One of these has been the funding rates which had remained flat for the better part of the first half of 2022. However, there has now been some movement in the funding rates and it is unfortunately not for the better. Funding Rates Turn Negative Two leading crypto exchanges have seen negative crypto funding rates for the past week. Binance and ByBit consistently appear on the....

Bitcoin’s price action has been lackluster as of late, providing investors with few insights into the cryptocurrency’s near-term outlook as it consolidates Although from a technical perspective, it remains unclear as to where it might trend in the near-term, there are a few factors that may provide investors with some guidance One such factor that could have some influence over the digital asset is its funding rates, which have flipped negative throughout the past few […]

Ethereum (ETH) has declined noticeably over the past week, with price data from CoinMarketCap reporting a net 14% decline within this period. At the time of the most recent data, ETH is trading around $2,000, significantly lower than the past week’s level near $2,500. Related Reading: Ethereum Price Is Not Going To Keep Falling Forever, Analyst Says ETH Funding Rates Signal A Bullish Turn In a QuickTake post on the CryptoQuant platform, analyst Amr Taha draws attention to recent developments in ETH funding rates, a key sentiment indicator in perpetual futures. The funding rate shows....