Insights

Bitcoin funding rate has turned positive as liquidations soar over $230M

exchange68September 13, 2024

0 0 1 minute read

Quick Take

The perpetual funding rate for Bitcoin flipped positive this morning, which has seen Bitcoin shorts rekt and take crypto liquidations in the past 24 hours to $240 million.
The majority of the liquidations are short liquidations at roughly $190m.
While the three largest Bitcoin cohorts have started accumulating over the weekend, I would suggest retail would follow sharply as smart money moves first.

Perpetual Funding Rate: (Source: Glassnode)

Accumulation Trend Score by cohort: (Source: Glassnode)

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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