K33 Research analysts said that with the correlation between bitcoin and the Standard & Poor's 500 index reaching a 23-month high of 0.67, the cryptocurrency market will be more significantly affected by Wednesday's CPI release and the FOMC meeting on September 18, when the Federal Reserve will make its much-anticipated latest interest rate decision.
However, continued bearish sentiment has pushed the average daily funding rate in the perpetual contract market to its lowest level since March 2023. Analysts note that the 30-day average funding rate has hit negative levels for the seventh time since 2018. This provides a compelling case for positive price action in the coming months. According to K33, the 90-day average return has been 79% since 2018 after the 30-day average return turned negative, and the 90-day median return has been 55%.
K33 Research: Perpetual Funds Rate Remains Negative, Signaling Bitcoin's Bottom Out
2024-09-11 10:52:45
Disclaimer:
1. The information provided does not constitute investment advice. Investors should make independent decisions and bear all risks themselves.
2. The copyright of this content belongs to the original author. The views expressed herein are solely those of the author and do not represent the stance or position of this website.
Previous article：
K33 Research：永续资金利率仍为负值，为比特币触底信号Next article：
BNB Chain官方X账号配图预告即将推出BNB再质押
