Insights

Bitcoin down 3.5% as perpetual funding rate turns negative; $180M in liquidations in 4 hours

exchange68September 13, 2024

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Quick Take

Bitcoin is down over 3.5% — resulting in over $180 million of liquidations in the past 4 hours in crypto.
Roughly all the liquidations have occurred from long liquidations — 97.5% in the past 4 hours.
The perpetual funding rate has turned negative on Binance, while the perpetual open interest for the BTCUSDT pair on Binance also dropped — over 5%.

Analyst

James Van Straten

Former Lead Analyst at CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century’s paramount invention.

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