A reliable indicator points to a sharp rebound in the coming weeks and months, K33 Research said in a market report published on Tuesday. According to the report, the average 30-day funding rate for perpetual contracts has fallen to negative levels, which has happened only six times since 2018.
K33 analysts Vetle Lunde and David Zimmerman wrote: "In the past, when monthly funding rates fell to negative levels, it usually meant the market bottomed out."
The report said that after the indicator had previously turned negative, the average return over the next 90 days was 79%, while the median return over the next 90 days was 55%.
K33 Research report: Funding rate indicator indicates that the market will bottom out in the coming weeks
2024-09-11 00:33:43
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