Lower highs for Bitcoin with funding rates calling for another dip.
to local lows of $35,500 after comments from the United States Federal Reserve, but previous highs still eluded bulls.continuing into negative territory, it seemed that the market expected another investigation of the area closer to $30,000 support.
"Funding turned even more negative post FOMC as investors were spooked by Powell’s resolve to fight inflation," a report from crypto research firm Delph Digital summarized. "All in all, it seems like the market is expecting Bitcoin to make a lower low after recently testing the $34K level."While sustained low funding rates provide fuel for a"squeeze" of unsuspecting shorters, mixed emotions prevailed Friday amid news that the U.S.
Popular Twitter account Material Scientist, creator of on-chain analytics suite Material Indicators, noted increased sustained buying by one entity this week. In the last week, someone has been TWAP'ing a net of +$200M with orders of size $10k - $100k, making up almost all of the total CVD on Binance.
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