According to external sources, the spot price of Bitcoin is still in the vicinity of $64,000, but the rate of funds for the renewal of contracts has risen to almost 20 months, indicating a significant increase in the multiplicity of warehouses in the derivatives market. Higher financial rates usually mean that multiple parties are willing to pay higher costs to maintain leverage positions.

High funding rates

According to the article, Bitcoin was lagging behind in June, maintaining inter-zone shocks for a longer period of time, and had recently rebounded from a low of $60,000 to about $641 million. Although the prices have been repaired, there has not yet been a clear breakthrough, which has allowed many traders to continue to bet on follow-up.

In the market for sustainable contracts, positive fund rates usually represent more than empty demand. The high level of the funding rate at this time is an indication of the optimistic mood of the market, with more traders opting for leverage to keep up their positions.

  • Bitcoin is about $64,100.
  • Critical resistance position around $66,300.
  • The short-term mean range is about US$ 63,700 to 63,900

60,000 to 62 million dollars still supports

According to the article, while the market had previously feared that bitcoin would be retraced significantly, the continued succession of 60,000 to 62 million United States dollars weakened that expectation. Once the zone had been repeatedly secured, a number of traders had begun to increase their exposure.

At the same time, RSI has returned to above 50, close to 52, showing a slight improvement in short-line kinetic energy from the previous period, but has not yet reached a significant overheating state. For many, this means that market sentiment has warmed up, but prices still need further confirmation.

Multiple concentration also poses a liquidation risk.

At the same time, the article cautioned that the high cost of funding was not merely a sign of optimism, but also of the possible concentration of multiple positions. The current silo structure may continue to drive prices up to $66,000 at the Bitcoin follow-up station.

But if prices accidentally break existing support, the high leverage will make it easier to trigger liquidations and thus magnify downward fluctuations. In other words, the optimism of the derivatives market has not yet been fully validated by an effective spot price breakthrough.

In the longer term, bitcoin remains below the long-term average of approximately $7.15 million and below the medium-term resistance area of approximately $663 million. The market was still in the rehabilitation phase until these locations were breached. According to the article, the financial rate had risen to almost 20 months, reflecting the fact that traders were increasing the bets of the coin ' s continued rebound.