Coin-Turk 20 minutes ago
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The cryptocurrency market experienced a sharp sell-off on Monday, leading to a significant rebound for Bitcoin (BTC ($98,691.71)) 
$98,739, which climbed to $102,500, marking a 12.35% recovery. However, this upturn was short-lived as the leading cryptocurrency reversed direction and fell back below $100,000. Market data indicates a potential new upward trend as funding rates have turned negative, prompting experts to analyze how Bitcoin will test crucial levels based on technical indicators.
Will Bitcoin Rise Again?
Funding rates are critical indicators reflecting the balance between long and short positions in the futures market. A negative funding rate signals that short sellers are dominant. Historically, such a situation can lead to rapid price increases for Bitcoin. For instance, after a 23% drop in January, the shift to a negative funding rate propelled BTC to $108,300.
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