Traders remain bullish on BTC despite market decline
According to Decrypt, despite the recent market crash, the funding rates for Bitcoin and Ethereum contracts are still bullish according to CoinGlass data. On Tuesday morning, the Bitcoin open interest funding rate was 0.0024%. This indicates that there are more traders opening long positions than opening short positions. Therefore, measured by Bitcoin derivatives activity, the current market sentiment is still slightly positive. The price drop has not completely eliminated the bullish sentiment of Bitcoin holders.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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