Crypto Blog
The daily chart shows that the BTC price has failed to climb back above the 200-day moving average, located around the $63K mark, after dropping below it earlier. The market is now consolidating around the $60K level and is yet to reclaim this key area.
Therefore, to have a more accurate idea of what’s to come, investors should wait for the market to break to the upside or the downside, as the current range does not give away any significant clues. This chart presents the Bitcoin funding rates metric, which measures whether the buyers or the sellers are executing their orders more aggressively. It is an important indicator in determining futures market sentiment. Positive values indicate bullish sentiment, while negative values support bearish sentiment.
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