Bitget Research Institute: The funding rate of BTC contracts has fallen to -0.03% for the first time in the past two months

Odaily News According to Coinglass data, the current funding rate of BTC contracts has fallen to around -0.03%, the first time in nearly two months. The main reason is that BTC fell sharply yesterday, causing the long positions of 135 million US dollars of contract users to be liquidated, and they were forced to sell their long contract positions. It is expected that after the market stabilizes, the contract rate of BTC will turn positive. In addition, the open interest of the entire market fell by about 1 billion US dollars, the long position decreased significantly, and the short position maintained a continuous increase for 3 months. This shows that the long positions of the market contracts continued to stop losses during the market decline, forming a certain run effect. The long-short ratio of the contract account is 2.79. During the decline, retail investors are still bullish on BTC through contracts. In the future, we can pay attention to whether there will be a continuous liquidation caused by the pin market to determine whether the market will reverse.