Bitcoin and ether perpetual futures funding rates still elevated despite downturn in spot prices
Powered by @unfoldedBitcoin and ether perpetual futures funding rates remain high despite a recent downturn in spot prices.
Analysts believe that the elevated funding rates suggest there is still more downside potential for both assets.
The high funding rates indicate the persistence of speculator length and a limited supply of bitcoins available for trading.
Compared to the corresponding period in 2021, there are currently very few functioning centralized finance lending markets available to alleviate funding pressures.