CandleFocus Bitcoin Surges Above $57,000, But Investors Still Shorting: Fuel For More Rise?
2024-09-11
Author: Content Editor
Despite Bitcoin's recovery beyond the $57,000 mark, data shows that derivatives exchange users are still shorting the cryptocurrency. The Funding Rate, which tracks the fee paid between long contract holders and short investors, has been negative, suggesting a bearish sentiment. However, as the value of Bitcoin has increased, these short positions have resulted in significant liquidations. Despite this, the Funding Rate remains negative, indicating that bearish speculators have not backed down. It remains to be seen if Bitcoin will continue to defy expectations and rise further. Currently, Bitcoin is trading at around $57,000, with a 3% increase over the last 24 hours.
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