Bitcoin funding rates hint at major market bottom

Bitcoin's recent attempt to break $76,000 has stalled, but a persistent negative funding rate in derivatives markets offers a potentially bullish signal. This streak of negative funding, lasting 46 days, mirrors the conditions seen after the FTX collapse, which historically marked the nadir of the 2022 crypto winter. Such extended negative rates suggest widespread bearish sentiment among traders, often preceding a significant market recovery as leveraged short positions are squeezed.