Glassnode reports that Bitcoin’s futures funding rates have recently decreased to around $366,000 per hour, approaching the neutral threshold. This dip signals a reduction in speculative demand for BTC futures and raises potential market implications. 💰 📈 📉
Why is this significant? If funding rates fall below $300,000/hour, it could signal broader market sentiment shifts impacting both Bitcoin and Ethereum markets.
Here’s what experts say:
– Glassnode highlights the decrease in BTC futures funding rates on their official X account.
– A potential decline in speculative demand for Bitcoin perpetual futures suggests a cooling of market sentiment.
– Historical precedents show similar decreases often lead to price sluggishness or downside volatility, affecting related derivatives and correlated assets.
– Institutional and on-chain analysis reveals a slowdown in ETF inflows for Bitcoin. If funding rates fall further, there could be continued divergence from earlier bullish cycles.
This dip in funding rates may also affect ETH, as it historically impacts other cryptocurrencies and their prices.
Overall, while it’s still early to predict the future of the market, this shift in BTC futures funding rates warrants attention.