In this week's Glassnode Clips, we focus on Futures Funding Rates:
- Funding rates act as a directional barometer for the market, and throughout 2023, there was a clear long bias with traders consistently paying to maintain their long positions.
- For a significant portion of 2023, perpetual annualized funding rates yielded more than US Treasury rates, underscoring the potential rewards and risks of Bitcoin futures trading.
- Following the notable selloff in August, market volumes diminished, pointing to a widespread market apathy, and while futures play a pivotal role, the adjusting rates indicate the presence of other key market dynamics.
Discover more in the latest Glassnode Clips below 👇
https://www.youtube.com/watch?v=Gp7mIbcWjKY