Summary
- It was stated that the average funding rate of the top 3 exchanges has dropped to 0.
- This could lead to a bullish rally for Bitcoin.
- It was added that Bitcoin is continuously being bought at $90,000.
There is an opinion that a bullish rally for Bitcoin (BTC) might be starting.
On the 9th (local time), Axel Adler Jr., a contributor to CryptoQuant, stated on X that "the average funding rate of the top 3 exchanges (Binance, Bybit, OKX) has dropped to 0," adding, "When this phenomenon occurs in this cycle, it has always led to a bullish rally for Bitcoin."
He further added, "The most important point is that during the adjustment period, Bitcoin never fell below $89,000," indicating "investors are continuously buying at $90,000."
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
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