Bitcoin at $83K: Funding Rate Turns Negative as Shorts Pay to Stay
- —BTC perpetual funding rate fell to -0.3% before returning to near zero
- —Open interest dropped to 652,000 BTC from about 800,000 at the start of the year
- —More than $500 million in positions were liquidated in 24 hours
- —Bitcoin gained about 40% in Q3, rebounding from its summer low of $62,800
Why it matters: Negative funding with reduced open interest sets up a possible short squeeze, but Wednesday's PCE inflation print could extend the selloff.
Source: Journal du Coin