Binance traders in disbelief: Is another rally on the horizon ?

Binance-traders-in-disbelief-Is-another-rally-on-the-horizon

While Bitcoin is delivering a daily performance of nearly 5%, investors on Binance don't seem to believe this rally will last.

Binance accounts for a significant share of the derivatives market volume, and analyzing the platform's funding rates can provide strong indications of the prevailing sentiment in the derivatives space.

Whiereas BTC continues to climb, funding rates on Binance have turned negative, currently sitting at around -0.006 at the time of writing.

Since the beginning of this cycle, such low funding rates have only occurred twice :

- On October 16, 2023, when BTC surged from $28 000 to $73 000
- On September 9, 2024, when BTC moved from $57 000 to $108 000

If investors behavior remains consistent, this kind of trader disbelief could potentially lead to another bullish rally. 
Definitely something to watch closely...