CandleFocus

Bitcoin Funding Rates Show Traders are Cautious as BTC Drops Below $100K Again

Bitcoin experienced a strong rally at the beginning of 2025, surpassing the $100,000 mark but facing resistance and undergoing a sharp correction. Funding rate data from Glassnode indicates cautious sentiment among traders, with limited interest in paying premiums for leveraged long positions. This suggests concerns about the sustainability of the recent rally. Despite this caution, Bitcoin derivatives trading activity has increased, with a significant surge in volume. The Chande Momentum Index has retraced, reflecting weakening bullish strength. Bitcoin's current price is $99,866, with resistance at $101,536 and support at $96,642. A daily close above $101,165 is seen as important for confirming a breakout, while losing support at $96,642 could increase bearish pressure.

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