K33 Study: Negative Sustainable Funding Rates Signal Signs of Bitcoin Market Bottom
Publication Time:2024-09-11 18:56:09
Analysts at K33 Research noted that the correlation between Bitcoin and the S&P 500 index reached a 23-month high, indicating that the cryptocurrency market will be influenced by recent significant economic data and policy decisions. Persistent negative sentiment has pushed the daily funding rate in the perpetual contract market to its lowest point since March 2023. It's worth noting that this indicator has been in the negative zone for the seventh time since 2018. Historical data shows that after the 30-day average return turns negative, the average return over the next 90 days is 79%, with the median being 55%. This series of data may indicate signs of positive price movements in Bitcoin over the coming months.
Bitcoin
Market Bottom
FOMC meeting
Sustainable Funding Rate
CPI Release