Bitcoin traders chase shorts as rising Treasury yields weigh over gold
Summary
Bitcoin futures open interest has fallen to 652,000 BTC, down from an early-year peak of 800,000 BTC, while perpetual funding rates have turned negative at about -0.3%. The figures point to reduced leveraged participation and traders paying to maintain short positions, signaling bearish sentiment. Bitcoin fell 2% to $82,800 after President Trump declined to rule out further strikes on Iran, though it remains above its summer low and was the best-performing asset in the third quarter. Gold and other markets also declined as the U.S. dollar and Treasury yields rose, making income-bearing assets more attractive than bitcoin.
