The difference in funding rates between USDT and BTC-margined contracts highlights varied trader strategies and risk appetites.
Over the weekend, Bitcoin’s funding rates across various exchanges revealed a clear shift in trader sentiment. On August 31, rates were initially bullish, with Bitmex showing the highest rate. However, by September 1, there was a notable reversal, especially on Binance and Bybit, indicating a growing bearish outlook. This disparity became even more pronounced for token-margined contracts, particularly on Bybit, suggesting a significant market shift.
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