Bitcoin Perpetual Contract Funding Rates Drop Sharply

Perpetual contracts for Bitcoin have seen a dramatic decrease in funding rates, according to data from Glassnode and Foresight News. Long position financing has been reduced by over 62%, moving from $338 million in mid-August to the current figure of $127 million. This indicates a noticeable shift away from speculative trading activity as traders are increasingly reluctant to maintain long positions, reflecting a broader economic slowdown impacting market confidence.