Chart of the Day
In the Negatives. History repeats itself — BTC futures perpetual funding rates in the period after mid-May is starting to look a lot like the negative funding rates seen in March to April 2020. We may remember these two dark months as the aftermath of the abrupt Black Thursday crash and while nowhere as severe, BTC is seeing a prolonged market drawdown in recent times. With a majority of traders consistently shorting in expectation of a bearish market, others are looking to catch the falling knife before BTC returns to life.