Bitcoin News: Negative Funding Rates Signal Bearish Sentiment Despite Majority Short Liquidations

The Bitcoin futures market has shown some intriguing dynamics in recent trading sessions, with a negative funding rate indicating bearish sentiment despite the majority of liquidations being shorts. Here’s a closer look at what’s happening in the market.

Short Liquidations and Negative Funding Rates in Bitcoin Futures

In the past 24 hours, the open interest-weighted funding rate for Bitcoin perpetual futures turned negative, signaling bearish sentiment in the futures market. However, the majority of liquidations seen in the past day were shorts, which typically follow a price increase. This contradiction can be explained by how the market behaved in the past week. A negative funding rate means shorts are paying longs, suggesting the contract price is below the spot price. This occurrence, observed on March 25 and March 26, indicates traders anticipate a price decline.

GameStop To Raise $1.3 Billion Funds for Crypto Strategy, Stock Dips by 8%

GameStop has announced plans to raise up to $1.3 billion through convertible debt to further increase its Bitcoin holdings. Led by CEO Ryan Cohen, the company aims to boost its BTC treasury. The funds will be raised through the issuance of $1.3 billion in convertible senior notes with a five-year maturity and a potential additional $200 million raise. The notes will carry a 0% coupon and mature on April 1, 2030, unless converted, redeemed, or repurchased earlier. GameStop intends to use the funds for general corporate purposes, including buying Bitcoin.

Bitcoin to $100 Trillion? Michael Saylor Explains His Strategy

Michael Saylor, executive chairman of Strategy (formerly MicroStrategy), envisions Bitcoin evolving into a $100 trillion asset, reshaping finance. He advocates for regulatory clarity to foster innovation while protecting investors. Saylor emphasizes Bitcoin’s role in capital preservation, national security, and future financial systems. According to Saylor, BTC has the potential to have a market capitalization of $200 trillion by 2045, surpassing traditional assets like gold and property. This prediction is based on BTC’s scarcity, decentralization, and its potential to form the backbone of global finance.

Bitcoin And Altcoin News: 3 Reasons Markets May Be Turning Bearish

The cryptocurrency market is currently in a range, with Bitcoin attempting to rise above $90k. Altcoins are trying to recover, and experts notice a shift where altcoins are driving the market correction. Matt Bartolini of State Street Global Advisors discusses risks facing the markets, particularly in the current economic climate. Three key reasons suggest markets may turn bearish, with consumer confidence dropping to its lowest point being one of them.

Bitcoin Supply on Exchanges Drops to 8-Year Low; Potential for New All-Time High?

The supply of Bitcoin (BTC) on exchanges has reached its lowest point in eight years, standing at 7.53%. This decline suggests that investors are increasingly moving their BTC into self-custody, reducing the amount available for immediate selling. This trend is often seen as a bullish sign, indicating less short-term sell pressure and growing confidence among holders. The last time the exchange supply was this low was in February 2018.