Bitcoin derivatives markets flashing warning signs as price plunges below $70,000
Hex37's read
- Bitcoin derivatives open interest hits record highs.
- Funding rates remain elevated despite falling prices.
- Market sentiment shows growing fear and weak spot demand.
What it means for traders
- High open interest with falling prices could signal a short squeeze or further downside.
- Elevated funding rates suggest traders are paying a premium to hold long positions, increasing risk.
Affected markets
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