• 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

Negative Funding Could Act as a Launchpad for a Massive Bitcoin Rally

Cole Petersen by Cole Petersen
2 years ago
in Bitcoin
0
  • Bitcoin’s recent consolidation phase has come about concurrently with traders stacking up on short positions
  • This indicates that they expect the turbulence within the traditional markets to continue suppressing BTC’s price action, potentially leading it lower in the weeks ahead
  • That being said, this has caused negative funding rates to surge as of late, making it costly to be short
  • Historically, funding rates – when slanted towards one direction for extended periods – work as a reliable counter-indicator
  • One analyst is now noting that an $11,000 breakout with funding rates at their current levels could allow Bitcoin to see an explosive move higher

Bitcoin and the entire cryptocurrency market have been caught within a bout of sideways trading throughout the past few days and weeks.

BTC was consolidating in an incredibly tight range between $10,500 and $10,600 until earlier this morning when bulls stepped up and pushed it higher.

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

It has yet to test its key resistance at $11,000, but the slight move higher is a positive sign that indicates further upside could be imminent.

One analyst is also noting that its mid-term prospects remain bright, as negative funding rates could act as fuel for the cryptocurrency to make another big push higher in the near-term.

Bitcoin Pushes Slightly Higher as Stock Market Stabilizes

At the time of writing, Bitcoin is trading up slightly at its current price of $10,720. This marks a notable upswing from its recent lows of $10,400 that were set earlier this week due to fear surrounding the government’s pursuit of the BitMEX co-founders.

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

Stock market turbulence resulting from President Trump’s recent viral diagnosis perpetuated BTC’s weakness, but his recovery has created an updraft in the stock market and is now helping to push risk-on assets like crypto higher.

If the stock market continues pushing higher during the week ahead, it is reasonable to expect Bitcoin to see further upside.

Negative Funding Rates to Boost BTC Higher: Claims Analyst 

The entire crypto market has been caught within the throes of volatility as of late, which has caused traders to become overwhelmingly short-sided, resulting in negative funding for Bitcoin.

One trader believes this will act as the fuel that helps spark an explosive move higher once Bitcoin breaks $11,000.

“If BTC finally breaks 11k after this long time of negative funding on all exchanges… get ready for what is coming,” he explained.

Bitcoin

Image Courtesy of Il Capo of Crypto. Chart via Skew.

How Bitcoin trends as it approaches $11,000 will offer investors with significant insights into its near-term outlook.

Featured image from Unsplash.
Pricing data 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 Lags Behind US Stocks, Altcoins In Latest Bounce

17 hours ago
Bitcoin Bear

Bitcoin Bearish Signal: Coinbase Receives Large Inflows

17 hours ago
Bitcoin mining

Bitcoin Mining Facility Shut Down Following Sharp Decline In Miner Profitability

19 hours ago
bitcoin crypto

Why The 2022 Crypto Bear Market Is Different And Its Implications

2 days ago
Crypto Corner: The Sports Slice

Crypto Corner: The Sports Slice

2 days ago
Bitpanda

Bitpanda Sacks A Third Of Staff As Crypto Trading Platform Scales Down

4 days 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.