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Bitcoin perpetual funding rate turns negative ahead of CPI print – perspective turns bearish

March 14, 2023

27

Quick Take

Bitcoin was heavily shorted from the 10th to the 13th of March on the news of contagion around the regional banks.
Yesterday, Bitcoin broke $24,000 as the perpetual funding rate showed investors were going long and open interest increased.
However, ahead of the CPI print today at 1:30 GMT, Bitcoin is being shorted.
While options 25 delta skew suggests, puts are at a premium to suggest slight bearish sentiment heading into CPI.

Options 25 Delta Skew: (Source: Glassnode)

Futures Perpetual Funding Rate: (Source: Glassnode)

The post Bitcoin perpetual funding rate turns negative ahead of CPI print – perspective turns bearish appeared first on CryptoSlate.

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