10x Research: Since mid-October 2023, the fund interest rate has turned negative for the first time
10x Research has released an analysis article stating that a critical moment is approaching. Bitcoin rebounded from $60,000 to $67,500 within four days, almost reaching our bottom line. However, the bounce of Bitcoin occurred in four one-hour time periods and seemed to be driven by several larger orders rather than gradually buying in over four days. The real test is not our 68,300-point "sand line" level which symbolizes the previous high point. After retesting it, this historical highest level of the previous bull market was rejected before but caused parabolic movement of Bitcoin in recent cycles. As cryptocurrency futures traders have become cautious, the real test is whether the spot market can drive this round of rebounds higher. Although interest rates have risen in recent weeks indicating that futures traders are willing to deploy excessive leverage since mid-October 2023 for the first time funding rates turned negative.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
The 12 trillion financing market is in crisis! Institutions urge the Federal Reserve to step up rescue efforts
Wall Street financing costs are rising, highlighting signs of liquidity tightening. Although the Federal Reserve will stop quantitative tightening in December, institutions believe this is not enough and are calling on the Fed to resume bond purchases or increase short-term lending to ease the pressure.
Another Trump 2.0 era tragedy! The largest yen long position in nearly 40 years collapses
As the yen exchange rate hits a nine-month low, investors are pulling back from long positions. With a 300 basis point interest rate differential between the US and Japan, carry trades are dominating the market, putting the yen at further risk of depreciation.
Is a "cliff" in Russian oil production coming? IEA warns: US sanctions on Russia may have "far-reaching consequences"!
U.S. sanctions have dealt a heavy blow to Russia’s oil giants, and the IEA says this could have the most profound impact on the global oil market so far. Although Russian oil exports have not yet seen a significant decline, supply chain risks are spreading across borders.
Leading DEXs on Base and OP will merge and expand deployment to Arc and Ethereum
Uniswap's new proposal reduces LP earnings, while Aero integrates LPs into the entire protocol's cash flow.
Trending news
MoreCrypto prices
More
