The funding rate for BTC on mainstream trading platforms has reached -0.1%, which may lead to a short squeeze

ChainCatcher news, Coinglass data shows that the BTC funding rates on multiple mainstream trading platforms have reached -0.1%. Among them, Binance is at -0.1164%, Bitmex at -0.2918%, Bybit at -0.0942%, Okex at -0.1439%, Huobi at -0.0802%, and FTX at 1.9160%. Currently, this indicator is highly negative, which may lead to a short squeeze.

It is reported that the funding rate is an indicator of the periodic fees exchanged between traders in the Ethereum futures market. When this indicator value is negative, it means that short traders are paying a premium to long traders to maintain their positions, usually indicating that bearish sentiment is more dominant in the market; conversely, it suggests bullish sentiment. (Source link)