Bitcoin and the broader crypto market are experiencing a sharp decline, with Bitcoin hitting lows of $94,550 today. The decline is being attributed to a decrease in Bitcoin funding rates within the derivatives market. Funding rates reflect demand for Bitcoin derivatives and a strong rally typically sees a rise in these rates. However, the recent surge in Bitcoin's price lacked significant funding rate support, indicating weaker market commitment and leaving Bitcoin vulnerable to price corrections. Analysts suggest that if Bitcoin fails to maintain support above the $90K level, it could face increased selling pressure and deeper corrections. However, if funding rates recover and strong buying activity returns, Bitcoin could stabilize and resume its bullish path.



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