Short sellers continue to increase their short positions, and the funding rate indicates that traders are generally treating the uptrend as a rebound.

BlockBeats News, April 23rd, according to Coinglass data, Bitcoin surged to a high of $79,472 yesterday evening and has now retreated to $77,933. The entire network's short positions were liquidated again during the uptrend. Data shows that in the past 24 hours, there was $416 million in total liquidations, with $339 million in short liquidations and $76.36 million in long liquidations.

According to historical data, over the past 7 days, Bitcoin shorts across the entire network have paid out $12 million in funding fees to longs.

It is worth noting that during the price surge and subsequent fall, the funding rate on the Binance platform dropped from a neutral 0.35% to -0.79%. On all other major platforms except Binance, the Bitcoin contract rates are currently negative.

This situation indicates that even though Bitcoin once again refreshed the high point of this round of the uptrend, there are still many investors who are bearish on the future price and choose to continue shorting at these high levels.