Bitcoin Enters Disbelief Phase As Traders Keep Shorting The Rally

Bitcoin’s advance over the past four weeks is coll

Bitcoin Enters Disbelief Phase As Traders Keep Shorting The Rally

Bitcoin Enters Disbelief Phase As Traders Keep Shorting The Rally

Bitcoin’s advance over the past four weeks is colliding with a derivatives market that still looks positioned for weakness. Analysts tracking Binance funding and futures basis say traders continue to lean short even as BTC moves higher, creating what CryptoQuant contributor Darkfost described

Bitcoin funding rate 30-day sum | Source: X @Darkfost_Coc
Bitcoin Funding Rate 7DMA | Source: Axel Adler Jr.
Bitcoin Futures Basis 7D SMA | Source: Axel Adler Jr.
Bitcoin needs a weekly close above the 1.0 Fib, 1-week chart | Source: BTCUSDT on TradingView.com

Featured image created with DALL.E, chart from TradingView.com

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