Insights

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

exchange68September 13, 2024

0 1 1 minute read

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.

Futures Perpetual Funding Rate: (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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