Bitcoin Pauses Near $86,000 as Derivatives Sentiment Turns Neutral
Summary
- Bitcoin traded sideways after breaking above $86,000, with investor sentiment in the cryptocurrency derivatives market returning to neutral.
- Funding rates across major CEXs and DEXs tracked by CoinGlass are in neutral territory.
- BlockBeats said a funding rate of 0.01% is the baseline, with bullish sentiment prevailing above that level and bearish sentiment dominating below 0.005%.
Forecast Trend Report by Period
Bitcoin traded sideways after breaking above $86,000, with investor sentiment in the cryptocurrency derivatives market returning to neutral.
BlockBeats, a crypto-focused media outlet, reported on Sept. 22 that funding rates on major centralized exchanges, or CEXs, and decentralized exchanges, or DEXs, tracked by CoinGlass were in neutral territory.
Funding rates are periodic payments between long and short traders designed to keep perpetual futures prices from diverging too far from spot prices. In general, higher funding rates indicate stronger bullish bets, while lower rates suggest heavier bearish positioning.
BlockBeats described 0.01% as the baseline level for funding rates. Readings above 0.01% signal bullish sentiment, while those below 0.005% point to bearish sentiment.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.