• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
Bitcoinist.com
No Result
View All Result
Bitcoin
Nexo

Bitcoin Funding Rates Soar as Consolidation Persists; Long-Squeeze Imminent?

Cole Petersen by Cole Petersen
1 year ago
in Bitcoin
0
Advertisement
  • Bitcoin has seen some wild chop as of late, with the crypto’s price ranging between the lower and upper-$30,000 region
  • It has found some strong support within the lower part of this range, with sellers attempting on multiple occasions to break it to no avail.
  • The cryptocurrency has also been seeing large bouts of buying activity to counter selling pressure that appears to be coming from large whales on Coinbase and Binance
  • As soon as these bears lift their sell walls or run out of coins to sell, BTC could begin flying higher
  • One trader is now noting that although the crypto appears to be positioned for further upside, high funding rates remain a potential catalyst for a long-squeeze

Bitcoin has seen some positive price action this morning, with the crypto rallying higher following a sharp overnight selloff that sent the cryptocurrency down to lows of $34,800.

The buying pressure here proved to be significant and helped spark a rebound that is still unfolding at this moment.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

BTC’s price ran as high as $37,500 before facing an influx of buying pressure that slowed its ascent.

It still is looking strong, and there’s a large possibility that it sees further near-term upside once $37,000 is flipped to support.

One analyst is cautioning against getting too excited, as he notes that high funding rates seem to indicate that there could be a long-squeeze in Bitcoin’s future.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

Bitcoin Rebounds Following Sharp Overnight Selloff

At the time of writing, Bitcoin is trading up just under 3% at its current price of $36,900. This marks a notable rally from its overnight lows of under $35,000 set just several hours ago.

Where the crypto trends in the mid-term will likely depend on its continued reaction to $37,000. This is a resistance level for BTC, which would make flipping it into support technically significant.

Analyst: BTC’s High Funding Poses a Risk to Upside Potential 

One analyst explained in a recent tweet that Bitcoin’s short-term upside potential is currently being hampered by the high funding rates for leveraged positions.

This could indicate that being long is an incredibly crowded trade and that a Bitcoin long-squeeze is imminent.

“TWAPs & daily opens seem to be really important these days. Funding is getting pretty high again though, so I don’t think there’s a whole lot of room for further upside.”

Bitcoin

Image Courtesy of Byzantine General. Source: BTCUSD on TradingView.

The coming few days should shed some light on Bitcoin’s outlook, with its reaction to $37,000 and ultimately to $40,000 setting the tone for where it trends in the mid-term.

Featured image from Unsplash.
Charts from TradingView.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Cole Petersen

Cole Petersen

Cole is a cryptocurrency analyst based in Los Angeles. He studied at the University of California Irvine and has been interested in Bitcoin and the crypto markets since 2013.

Related Posts

Bitcoin

Bitcoin Bear Market Sends On-Chain Metrics Into Sideways Trend

4 hours ago
bitcoin addresses

Decline In Bitcoin Active Addresses Suggests Market Is Purging Paperhands

6 hours ago
South African Firm Raises $150 Million To Introduce Crypto Water Tokens Dubbed H2ON

South African Firm Raises $150 Million To Introduce Crypto Water Tokens Dubbed H2ON

15 hours ago
Jordan Belfort

Jordan Belfort, The ‘Wolf Of Wall Street,’ Advises: Buy Bitcoin Today And Make Money

16 hours ago
Bitcoin

Bitcoin Saw Largest Ever Monthly Withdrawal From Exchanges In June

1 day ago
Tesla

Tesla Bitcoin Investment Dwindles By $440 Million As Crypto Winter Drags On

1 day ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2022 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN

© 2021 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.