Bitcoin reversal rally is impossible without these indicators switching to bullish mode
Generally, rising open interest suggests that risk demand is returning to the market and traders are ready to back up their positions with leverage, creating more momentum for the trending asset.The negative funding rate is a condition in which short positions are paid for longs.
It can show that shorts need additional leverage, which is the mechanism of balancing the derivatives' price with the spot asset. At some point, longs will also demand more leverage, which causes the funding rate to turn positive, and they will be the ones paying fees to sellers.Here's our checklist:
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