Bitget Futures Market Updates

Despite an increase in total open interest for Bitcoin futures, the market sentiment remains bearish, with both BTC and ETH futures experiencing negative funding rates, indicating more short positions than long. Furthermore, the ratio of short liquidations to long liquidations is higher for both BTC and ETH futures, suggesting increased pressure on short positions. While BTC futures saw a rise in 24-hour trading volume, ETH futures witnessed a slight decline in trading volume during the same period, reflecting differing investor behaviors between the two cryptocurrencies. In spite of these fluctuations, the dominance of short positions and negative funding rates in both BTC and ETH futures markets suggests prevailing uncertainty and a cautious outlook among traders.