Certainly worth noting that this is the most substantial negative netflow signature we have seen on BTC this entire range since the May Flush (approx. -31 k)
I'll let you put the pieces together, but it would imply BTC supply is being taken off the market while we continue to grind up into the higher echelons of the range.
View original →When funding gets excessive to either side, it is time to take notes, as it reflects the potentially crowded trade in market
Positive funding= longs pay shorts
Negative funding=shorts pay longs
Important to note, funding has been consistently below baseline of 0.01% (one basis point) for over 1 month
Funding is an indication of trend, but I think we can glean a lot when market is ranging
A sideways market with a premium= absorption above
A sideways market with a discount= absorption below
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