Insights

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

exchange681 week ago

0 0 1 minute read

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.

Disclaimer: Our writers’ opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.