Cryptocurrency

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

quick take

  • Futures perpetual funding rates turned negative for the first time since March 14th.
  • Bearish sentiment could start creeping in as the 25bps rate hike looks set to be confirmed by the markets at tomorrow’s FOMC meeting.
  • Jerome Powell also discusses the new Fed Dot Plot and future economic forecasts and tells us more than a possible 25bps rate hike.
  • It’s been the worst year so far for investors who have shorted Bitcoin, but expect more volatility tomorrow.
Federal Reserve Rate Hike: (Source: CME)
Futures Perpetual Funding Rate: (Source: Glassnode)
Futures Perpetual Funding Rate: (Source: Glassnode)

Post-Bitcoin funding rates are slightly negative as the market awaits the Fed’s interest rate decision, which first appeared on CryptoSlate.

Related Articles

Back to top button