Glassnode
Bitcoin perpetual futures funding rates have turned decisively positive across all major exchanges, according to Glassnode data, with the latest reading at 0.00005375 BTC. The shift signals that traders are once again paying a premium to hold long exposure — a meaningful reversal from the heavily short-biased positioning that defined April's derivatives market.
BTC consolidating near the mid-$70,000 range appears to be drawing renewed leveraged demand. When funding rates are positive, long positions periodically pay short positions, making sustained positive readings a gauge of speculative appetite rather than a directional guarantee.
The contrast with April is notable: that period saw negative or near-zero funding across venues, reflecting a market where shorts were dominant and longs were scarce.
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