Bitcoin Plunges 17% in 3 Days, Funding Rate Indicates Investors Not Aggressively Long

BlockBeats News, June 4th, according to HTX market data, Bitcoin has fallen by about 17% in approximately 3 days since the beginning of June, hitting a low of $61,383.

Meanwhile, according to Coinglass data, although the price of Bitcoin has dropped to near the low point of February 6th, the market sentiment reflected in the funding rate is not as bearish as it was at that time. At the time of writing, the funding rates for BTC and ETH on major platforms are still positive, with no widespread negative rates, indicating that on-exchange funds to a certain extent consider this decline as a retracement or even a double bottom situation, and are not aggressively shorting.