Is $68,500 Bitcoin Recovery A Dead-Cat Bounce? What Data Suggests
Summary
Bitcoin's futures market data suggests a stable funding rate, indicating a bullish sentiment. However, historically, a highly positive funding rate has been a bearish sign for the cryptocurrency's price. Currently, the funding rates are positive but at a smaller scale, suggesting that the sentiment hasn't overheated yet. Despite Bitcoin's recovery to around $68,500, the funding rate hasn't spiked, potentially indicating that the sentiment remains in check.
