Cryptocurrency
Bitcoin perpetual funding rate turns negative ahead of CPI print – perspective turns bearish
quick take
- Bitcoin was sold sharply short March 10-13 on news of the contagion over a local bank.
- Yesterday, Bitcoin broke through $24,000.The perpetual funding rate showed investors going long and open interest increased.
- However, Bitcoin is being sold short ahead of CPI printing at 1:30 GMT today.
- While option 25’s delta skew suggests, the put is at a premium to suggest slight bearish sentiment towards the CPI.
Post Bitcoin perpetual funding rate turns negative ahead of CPI printing.