Funding rates stay positive, but traders face liquidation challenges while anticipating a market correction for potential gains. Bitcoin maintains a positive Funding Rate, but long position liquidations exceed $20 million.
Galaxy Digital’s $140 million Bitcoin bet fuels optimism amid rising prices. Funding rates stay positive, but traders face liquidation challenges while anticipating a market correction for potential gains.At the time of this writing, the deposited BTC was valued at over $140 million.Coinglass
, Bitcoin has maintained a positive Funding Rate over the past few days. After the Funding Rate spiked on 24 October, reaching its highest point in almost five months, it has since decreased. However, it remained higher than the levels observed in recent months. As of the latest available data, the Funding Rate was approximately 0.015%.The liquidation chart revealed that on 26 October, long position liquidations exceeded $20 million, whereas short position liquidations amounted to just over $9 million.
Similarly, on 27 October, there were over $24 million in long position liquidations, while short position liquidations were slightly above $5 million. As of this writing, long positions led the liquidation with over $1 million., 28 October saw a modest price increase of less than 1%. This gain followed two consecutive days of noticeable downtrends.However, at the time of this update, Bitcoin had resumed its downward movement with a decline of less than 1%.
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