{"id":652269,"date":"2024-11-09T05:00:59","date_gmt":"2024-11-09T05:00:59","guid":{"rendered":"https:\/\/uniquehot.com\/?p=652269"},"modified":"2024-11-08T15:26:00","modified_gmt":"2024-11-08T15:26:00","slug":"rising-bitcoin-funding-rates-signal-market-optimism-but-is-a-correction-looming","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/bitcoin-news\/rising-bitcoin-funding-rates-signal-market-optimism-but-is-a-correction-looming\/","title":{"rendered":"Rising Bitcoin Funding Rates Signal Market Optimism\u2014But Is A Correction Looming?"},"content":{"rendered":"<p data-pm-slice=\"1 1 []\">Bitcoin recent price movement of continuous uptrend has drawn the attention of market participants and analysts as it edges closer to<a href=\"https:\/\/uniquehot.com\/bitcoin-news\/analyst-predicts-bitcoin-bull-run-mvrv-metric-hints-at-95k-to-120k-target\/\" target=\"_blank\" rel=\"noopener \"> creating a new all-time high<\/a>, blasting through critical resistance levels.<\/p>\n<p data-pm-slice=\"1 1 []\">Amid this, a CryptoQuant analyst known as TraderOasis\u00a0<span style=\"margin: 0px;padding: 0px\">provided an\u00a0<a href=\"https:\/\/cryptoquant.com\/insights\/quicktake\/672df4b18a32550757494c07-Bitcoin-analysis\" target=\"_blank\" rel=\"noopener nofollow\">in-depth analysis<\/a> of Bitcoin&#8217;s market earlier today,\u00a0<\/span>suggesting the trajectory the asset could head to next.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/bitcoin-news\/analyst-predicts-bitcoin-bull-run-mvrv-metric-hints-at-95k-to-120k-target\/\" target=\"_blank\" rel=\"noopener \">Analyst Predicts Bitcoin Bull Run: MVRV Metric Hints At $95K To $120K Target<\/a><\/div>\n<h2 data-pm-slice=\"1 1 []\">Analysis On Bitcoin<\/h2>\n<p>Oasis explained that his previously outlined bullish scenario for the Range 0.5 structure had played out successfully, emphasizing the importance of Bitcoin&#8217;s previous all-time high (ATH) level as potential support.<\/p>\n<figure style=\"width: 1280px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/img.cryptoquant.com\/498067\/quicktake\/eF5sNm_cea6b9f67426db00b624fa1c27869ea88e5048665e2122083fb361b247961073.png?resize=1280%2C640&#038;ssl=1\" alt=\"Bitcoin price analysis. \" width=\"1280\" height=\"640\"><figcaption class=\"wp-caption-text\">Bitcoin price analysis. | Source: CryptoQuant<\/figcaption><\/figure>\n<p>This level, represented by the blue line in his chart analysis (shown above), could be a critical marker for Bitcoin&#8217;s next phase, the analyst reveals.<\/p>\n<p data-pm-slice=\"1 1 []\">The analyst also highlighted the significance of the Coinbase Premium Index, which often indicates strong buying demand on Coinbase relative to other exchanges.<\/p>\n<p data-pm-slice=\"1 1 []\">Oasis noted that the bullish shift in this indicator was accompanied by an <a href=\"https:\/\/uniquehot.com\/bitcoin-news\/bitcoin-75000-all-time-high-btc-is-overheated-now\/\" target=\"_blank\" rel=\"noopener \">upward price move<\/a>, marking an important resistance zone that Bitcoin needs to overcome to sustain its momentum.<\/p>\n<p data-pm-slice=\"1 1 []\">Furthermore, he pointed out that the open interest indicator, which tracks the total number of outstanding derivative contracts, was moving alongside the price.<\/p>\n<p data-pm-slice=\"1 1 []\">According to him, this is a positive signal indicating that market participation remains strong without signs of instability or excessive leverage.<\/p>\n<h2 data-pm-slice=\"1 1 []\">Rising Funding Rates And Exchange Netflow Observations<\/h2>\n<p>TraderOasis also delved into another key metric: funding rates. These rates reflect the cost of holding long positions in perpetual futures contracts and can signal <a href=\"https:\/\/uniquehot.com\/bitcoin-news\/13-million-bitcoin-sounds-bearish-expert-hints-at-even-greater-heights-ahead\/\" target=\"_blank\" rel=\"noopener \">market sentiment<\/a>.<\/p>\n<p>The analyst observed that funding rates had begun to rise again, suggesting that market participants are increasingly confident about further upward movement.<\/p>\n<figure style=\"width: 1280px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/img.cryptoquant.com\/498067\/quicktake\/07zItR6_4620dc06312127265d9ea2af24892418d1033ad0817599f2307bbb2a55098300.png?resize=1280%2C711&#038;ssl=1\" alt=\"Bitcoin funding rates.\" width=\"1280\" height=\"711\"><figcaption class=\"wp-caption-text\">Bitcoin funding rates. | Source: CryptoQuant<\/figcaption><\/figure>\n<p>However, he cautioned that this sentiment had not yet reached extreme levels that could indicate overheating or a <a href=\"https:\/\/uniquehot.com\/bitcoin-news\/bitcoin-sentiment-danger-zone-extremely-greedy\/\" target=\"_blank\" rel=\"noopener \">potential correction<\/a>. The analyst mentioned monitoring these levels is essential, as excessive funding rates often signal market tops or heightened volatility.<\/p>\n<p>Another aspect of analysis was the activity observed in exchange netflow for spot exchanges. According to Oasis, a significant sell-off was reflected in this indicator, which measures the net flow of Bitcoin into and out of exchanges.<\/p>\n<p>Given the potential for increased volatility, the analyst interpreted this as a signal to consider taking profits on long trades. This aligns with previous market patterns where high net inflows or outflows often foreshadow shifts in market sentiment and price direction.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/bitcoin-path-to-85k-analysts-say-its-behaving-as-predicted\/\" target=\"_blank\" rel=\"noopener \">Bitcoin Path To $85K: Analysts Say It\u2019s Behaving \u2018As Predicted\u2019<\/a><\/div>\n<p>Meanwhile, Bitcoin so far appears to have <a href=\"https:\/\/uniquehot.com\/news\/bitcoin-path-to-85k-analysts-say-its-behaving-as-predicted\/\" target=\"_blank\" rel=\"noopener \">found stability above $75,000<\/a> price mark following its latest ATH of $76,872 yesterday. At the time of writing, the asset currently trades for $75,820, up by 0.9% in the past day.<\/p>\n<figure style=\"width: 2770px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium\" src=\"https:\/\/www.tradingview.com\/x\/sZJXzUNa\/\" alt=\"Bitcoin (BTC) price chart on TradingView\" width=\"2770\" height=\"1556\"><figcaption class=\"wp-caption-text\">BTC price is moving upwards on the 1-hour chart. Source: BTC\/USDT on<a href=\"https:\/\/www.tradingview.com\/chart\/HSuSIPeM\/?symbol=OANDA%3AEURGBP\" target=\"_blank\" rel=\"noopener nofollow\"> TradingView.com<\/a><\/figcaption><\/figure>\n<p>Featured image created with DALL-E, Chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin recent price movement of continuous uptrend has drawn the attention of market participants and analysts as it edges closer to creating a new all-time high, blasting through critical resistance levels. Amid this, a CryptoQuant analyst known as TraderOasis\u00a0provided an\u00a0in-depth analysis of Bitcoin&#8217;s market earlier today,\u00a0suggesting the trajectory the asset could head to next. Related Reading: Analyst Predicts Bitcoin Bull Run: MVRV Metric Hints At $95K To $120K Target Analysis On Bitcoin Oasis explained that his previously outlined bullish scenario for the Range 0.5 structure had played out successfully, emphasizing the importance of Bitcoin&#8217;s previous all-time high (ATH) level as potential support. This level, represented by the blue line in his chart analysis (shown above), could be a critical marker for Bitcoin&#8217;s next phase, the analyst reveals. The analyst also highlighted the significance of the Coinbase Premium Index, which often indicates strong buying demand on Coinbase relative to other exchanges. Oasis noted that the bullish shift in this indicator was accompanied by an upward price move, marking an important resistance zone that Bitcoin needs to overcome to sustain its momentum. Furthermore, he pointed out that the open interest indicator, which tracks the total number of outstanding derivative contracts, was moving alongside the price. According to him, this is a positive signal indicating that market participation remains strong without signs of instability or excessive leverage. Rising Funding Rates And Exchange Netflow Observations TraderOasis also delved into another key metric: funding rates. These rates reflect the cost of holding long positions in perpetual futures contracts and can signal market sentiment. The analyst observed that funding rates had begun to rise again, suggesting that market participants are increasingly confident about further upward movement. However, he cautioned that this sentiment had not yet reached extreme levels that could indicate overheating or a potential correction. The analyst mentioned monitoring these levels is essential, as excessive funding rates often signal market tops or heightened volatility. Another aspect of analysis was the activity observed in exchange netflow for spot exchanges. According to Oasis, a significant sell-off was reflected in this indicator, which measures the net flow of Bitcoin into and out of exchanges. Given the potential for increased volatility, the analyst interpreted this as a signal to consider taking profits on long trades. This aligns with previous market patterns where high net inflows or outflows often foreshadow shifts in market sentiment and price direction. Related Reading: Bitcoin Path To $85K: Analysts Say It\u2019s Behaving \u2018As Predicted\u2019 Meanwhile, Bitcoin so far appears to have found stability above $75,000 price mark following its latest ATH of $76,872 yesterday. At the time of writing, the asset currently trades for $75,820, up by 0.9% in the past day. Featured image created with DALL-E, Chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":652275,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[88240],"tags":[428,629,680,1119,78790,10923,83531],"class_list":["post-652269","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","tag-bitcoin","tag-bitcoin-market","tag-bitcoin-price-analysis","tag-btc","tag-btcusdt","tag-crypto-market","tag-cryptoquant"],"acf":[],"yoast_head":"\n<title>Rising Bitcoin Funding Rates Signal Market Optimism\u2014But Is A Correction Looming?<\/title>\n<meta name=\"description\" content=\"Bitcoin recent price movement of continuous uptrend has drawn the attention of market participants and analysts, as it edges closer...\" \/>\n<meta name=\"robots\" content=\"index, follow, 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. 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