Bearish sentiment spreads across Bitcoin derivatives as Binance funding rate turns negative
- —Binance BTC perpetual funding rate dropped to -0.0073%
- —US CPI and PPI beat forecasts, boosting odds of a Fed rate hike
- —Bitcoin pulled back sharply after topping $87,000, denting sentiment
- —Key supports at $80,000 and $74,000; a rebound is possible after the bearish skew
Why it matters: Negative funding points to crowded shorts that could fuel a squeeze, but a break below $80,000 and $74,000 would accelerate losses.
Source: Bloomingbit