{"id":502544,"date":"2022-09-16T23:00:08","date_gmt":"2022-09-16T23:00:08","guid":{"rendered":"https:\/\/uniquehot.com\/?p=502544"},"modified":"2024-06-11T14:26:15","modified_gmt":"2024-06-11T14:26:15","slug":"bitcoin-open-interest-funding-rates-point-to-growing-bullish-sentiment","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-open-interest-funding-rates-point-to-growing-bullish-sentiment\/","title":{"rendered":"Bitcoin Open Interest, Funding Rates Point To Growing Bullish Sentiment"},"content":{"rendered":"

Bitcoin has seen fluctuating sentiment lately. With numerous dips and recoveries, it is no surprise that investors have had a hard time deciding on which side of the fence to sit on. However, while retail investors seem to be uncertain about the market, there has been some growth in both the funding rates and the open interest over the last week, showing that positive sentiment may be stabilizing.<\/p>\n

Funding Rates Recover<\/h2>\n

Over the last couple of weeks, bitcoin funding rates have been consistently below neutral. This coincided with the times when the market was struggling, ushering in a new bear trend. But with the last week\u2019s events, there has been a remarkable recovery in the funding rates.<\/p>\n

Related Reading: Displaced ETH Miners Seek Refuge In Ethereum Classic, Ravencoin<\/a><\/strong><\/em><\/div>\n

Toward the end of last week, the funding rates had returned to neutral levels for the first time in one month. It followed the recovery in bitcoin\u2019s price last Friday before it slid back down. The bitcoin funding rates have since lost their footing at the neutral territory but continue to maintain higher levels before the BTC recovery on Friday.<\/p>\n

\"Bitcoin<\/p>\n

Funding rates return to neutral | Source: Arcane Research<\/a><\/pre>\n
What this shows is that there is still demand for both bitcoin longs and shorts. This means that while it does look to be swinging in the favor of the bulls due to the elevated levels, it is still an uncertain market. Additionally, last week\u2019s recovery to neutral levels did not really change much about the current trend, as funding rates have now spent nine consecutive months at or below neutral levels.<\/p>\n
Bitcoin Open Interest Say \u2018Short Squeeze\u2019<\/h2>\n
Despite the decline in the bitcoin price, the open interest has not had a hard time of it like the rest of the market. Instead, BTC-denominated open interest has hit multiple new all-time highs this year, leading to various short squeezes in the market.<\/p>\n
\"Bitcoin<\/p>\n
Open interest continued to see favorable market conditions as it hit a new all-time high of 421,000 BTC last Wednesday. Even the short squeeze that was recorded on Friday did not do much to bring down the open interest, which remained elevated at 418,000 BTC at the start of this week.\u00a0<\/span><\/p>\n
Related Reading: Ethereum Merge Fails To Move ETH Price, $2,000 Remains Elusive<\/a><\/em><\/strong><\/div>\n
The depressed market sentiment suggests that this elevated trend is unlikely to continue for very long. Bitcoin\u2019s price decline also points to this, given that the elevated open interest coincided with a period of price recovery. It also means that bears have been in control of the market for the period where the open interest has been high. Bitcoin\u2019s fall below $20,000 is a testament that short traders continue to control the market.\u00a0<\/span><\/p>\n
Featured image from PYMNTS, charts from Arcane Research and TradingView.com<\/pre>\n
Follow <\/i><\/b>Best Owie on Twitter<\/i><\/b><\/a> for market insights, updates, and the occasional funny tweet\u2026<\/i><\/b><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin has seen fluctuating sentiment lately. With numerous dips and recoveries, it is no surprise that investors have had a hard time deciding on which side of the fence to sit on. However, while retail investors seem to be uncertain about the market, there has been some growth in both the funding rates and the open interest over the last week, showing that positive sentiment may be stabilizing. Funding Rates Recover Over the last couple of weeks, bitcoin funding rates have been consistently below neutral. This coincided with the times when the market was struggling, ushering in a new bear trend. But with the last week\u2019s events, there has been a remarkable recovery in the funding rates. Related Reading: Displaced ETH Miners Seek Refuge In Ethereum Classic, Ravencoin Toward the end of last week, the funding rates had returned to neutral levels for the first time in one month. It followed the recovery in bitcoin\u2019s price last Friday before it slid back down. The bitcoin funding rates have since lost their footing at the neutral territory but continue to maintain higher levels before the BTC recovery on Friday. Funding rates return to neutral | Source: Arcane Research What this shows is that there is still demand for both bitcoin longs and shorts. This means that while it does look to be swinging in the favor of the bulls due to the elevated levels, it is still an uncertain market. Additionally, last week\u2019s recovery to neutral levels did not really change much about the current trend, as funding rates have now spent nine consecutive months at or below neutral levels. Bitcoin Open Interest Say \u2018Short Squeeze\u2019 Despite the decline in the bitcoin price, the open interest has not had a hard time of it like the rest of the market. Instead, BTC-denominated open interest has hit multiple new all-time highs this year, leading to various short squeezes in the market. Open interest continued to see favorable market conditions as it hit a new all-time high of 421,000 BTC last Wednesday. Even the short squeeze that was recorded on Friday did not do much to bring down the open interest, which remained elevated at 418,000 BTC at the start of this week.\u00a0 Related Reading: Ethereum Merge Fails To Move ETH Price, $2,000 Remains Elusive The depressed market sentiment suggests that this elevated trend is unlikely to continue for very long. Bitcoin\u2019s price decline also points to this, given that the elevated open interest coincided with a period of price recovery. It also means that bears have been in control of the market for the period where the open interest has been high. Bitcoin\u2019s fall below $20,000 is a testament that short traders continue to control the market.\u00a0 Featured image from PYMNTS, charts from Arcane Research and TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet\u2026<\/p>\n","protected":false},"author":541,"featured_media":502547,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,83651,84667,679,1119,1144,78790],"class_list":["post-502544","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-funding-rates","tag-bitcoin-open-interest","tag-bitcoin-price","tag-btc","tag-btcusd","tag-btcusdt"],"acf":[],"yoast_head":"\nBitcoin Open Interest, Funding Rates Point To Growing Bullish Sentiment<\/title>\n<meta name=\"description\" content=\"Bitcoin has seen fluctuating sentiment lately. 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This has seen Best dive into topics in areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), Layer 2 blockchains, etc. In addition to this, Best is a vocal member of the crypto community across various social media platforms such as X and Reddit. Best\u2019s work garners tens of thousands of readers monthly, who rely on the information in these publications to keep up-to-date with everything happening in the crypto community. Best\u2019s articles explore breaking news, intricate systems such as yield farming, liquidity pools, and other decentralized finance (DeFi) systems. This is because Best understands the importance of information to gaining financial freedom and believes that everyone should have access to this information. Best also believes in leveraging the blockchain for philanthropy to create the most positive social impact. This involves work with charitable organizations focused on financial literacy and education. With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity. When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world\u2019s most quiet and well-behaved Husky. Best\u2019s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well. As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers. Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. Best\u2019s prolific career in the media industry is a testament of how hard work and dedication pays.","sameAs":["https:\/\/www.linkedin.com\/in\/best-owie-41a150178\/","https:\/\/x.com\/https:\/\/twitter.com\/BestOwie"],"url":"https:\/\/uniquehot.com\/author\/owiebest\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Open Interest, Funding Rates Point To Growing Bullish Sentiment","url":"http:\/\/uniquehot.com\/news\/bitcoin-open-interest-funding-rates-point-to-growing-bullish-sentiment\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/bitcoin-open-interest-funding-rates-point-to-growing-bullish-sentiment\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/09\/Bitcoin-funding-rates.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/09\/Bitcoin-funding-rates.jpeg?fit=1000%2C600"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Best Owie"}],"creator":["Best Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin funding rates","bitcoin open interest","bitcoin price","btc","btcusd","btcusdt"],"dateCreated":"2022-09-16T23:00:08Z","datePublished":"2022-09-16T23:00:08Z","dateModified":"2024-06-11T14:26:15Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Open Interest, Funding Rates Point To Growing Bullish Sentiment\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-open-interest-funding-rates-point-to-growing-bullish-sentiment\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-open-interest-funding-rates-point-to-growing-bullish-sentiment\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2022\\\/09\\\/Bitcoin-funding-rates.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2022\\\/09\\\/Bitcoin-funding-rates.jpeg?fit=1000%2C600\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Best Owie\"}],\"creator\":[\"Best Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin funding rates\",\"bitcoin open interest\",\"bitcoin price\",\"btc\",\"btcusd\",\"btcusdt\"],\"dateCreated\":\"2022-09-16T23:00:08Z\",\"datePublished\":\"2022-09-16T23:00:08Z\",\"dateModified\":\"2024-06-11T14:26:15Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/09\/Bitcoin-funding-rates.jpeg?fit=1000%2C600","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/502544","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/541"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=502544"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/502544\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/502547"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=502544"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=502544"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=502544"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}