Insights

Bitcoin funding rate turns slightly negative as markets awaits Fed interest rate decision

Quick Take

  • The futures perpetual funding rate has turned negative for the first time since March 14.
  • Bearish sentiment could start to creep in as a 25bps rate hike looks to be confirmed by the markets for tomorrow’s FOMC meeting.
  • Jerome Powell will also discuss the new fed dot plot and future economic projections, which will tell us more than a potential 25bps rate hike.
  • Investors who have been short Bitcoin have had a terrible year so far, but we will expect a lot of volatility tomorrow.
Fed Rate Hike: (Source: CME)
Fed Rate Hike: (Source: CME)
Futures Perpetual Funding Rate: (Source: Glassnode)
Futures Perpetual Funding Rate: (Source: Glassnode)

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