Binance Bitcoin Funding Rate Falls to -0.0073% as Short Demand Grows
Photo: TokenPost
Binance’s Bitcoin (BTC) funding rate fell to -0.0073%, signaling stronger demand for short positions in the derivatives market. Binance’s funding formula uses a 0.01% interest-rate parameter, so a neutral funding rate is not 0%. U.S. consumer price index (CPI) and producer price index (PPI) readings both topped expectations this week, while expectations for future Federal Reserve rate hikes rose. Bitcoin had pulled back after moving above $87,000 several days earlier. The last similar funding-rate episode came in June, when Bitcoin was around $62,000. Enna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.
Source: TokenPost
