Bitcoin funding rates have fallen to -6%, according to CoinGlass data, marking one of the lowest levels in three months. This follows Bitcoin’s decline to $63,000 amid recent geopolitical tensions. Bitcoin news shows BTC-denominated open interest rose to 687,000 BTC, up from 668,000. Over $500 million in positions were liquidated in the past 24 hours, with longs accounting for $420 million. BTC is now testing $64,000, with a potential short squeeze on the horizon.

According to Coindesk, CoinGlass data shows that Bitcoin perpetual contract funding rates have dropped to -6%, reaching one of the lowest levels in three months, indicating aggressive short positions emerged after Bitcoin briefly fell to $63,000 following strikes by the U.S. and Israel on Iran. Meanwhile, open interest measured in BTC increased from 668,000 BTC to 687,000 BTC, suggesting growing market participation despite price volatility. A negative funding rate typically reflects strong bearish sentiment, with traders willing to pay a premium to maintain short positions. Over the past 24 hours, more than $500 million in crypto positions were liquidated, with long liquidations exceeding $420 million. Bitcoin is currently attempting to reclaim the $64,000 level, and market analysts suggest a potential short squeeze may be imminent.Source:Show originalDisclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.