Summary
- Glassnode stated that short positions are increasing among the top 10 cryptocurrencies by market cap.
- Bitcoin's funding rate has turned negative, indicating increased selling pressure.
- Selling pressure is also increasing for Binance Coin and Cardano.
An analysis has emerged indicating that short (sell) positions are increasing among the top 10 cryptocurrencies by market capitalization.
On the 28th (local time), Glassnode stated on X (formerly Twitter) that "Bitcoin (BTC)'s funding rate has just turned negative," and "short positions are increasing across the top 10 cryptocurrencies." Additionally, it was noted that selling pressure is growing for Binance Coin (BNB) and Cardano (ADA)."
As of 8:36 PM, Bitcoin is trading at $108,768, down 0.66% from 24 hours ago on the Binance USDT market.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
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