CryptoQuant: BTC funding fees turn negative, intensifying bearish sentiment in the market.

According to an analysis by CryptoQuant, as reported by Odaily Planet Daily, Bitcoin funding fees on Binance are currently in negative territory at -0.0045, indicating a clear dominance of bearish forces in the market. The analyst points out that Binance's neutral funding rate is 0.01%, and the current figure is in extreme territory, suggesting a large accumulation of short positions and a clear bearish consensus among investors. Historical data shows that similar extreme situations often foreshadow a potential market reversal. Technical analysis identifies $74,000 and $69,000 as two key price ranges, which investors should monitor for trading decisions.