ShayanMarkets
A Potential Long Squeez Might Happen!
Bitcoin's price has recently recovered from the $18K region, forming a couple of higher highs and lows. This market structure could suggest that the bulls are trying to begin an uptrend and have created a bullish sentiment across the futures market. The funding rates, which is a proper metric to determine the futures market sentiment, have been printing positive values over the last few weeks, implying the dominance of bullish sentiment in the futures market. However, the current positive values of the funding rates could be a trap again and lead to a massive long squeeze, and the following liquidation flood could trigger another substantial drop and bearish continuation below the $20K mark. As a result, it still wouldn't be promising to rule out the bearish scenario entirely, as higher values of the funding rates might result in more volatility in the short term.