HomeUncategorizedBitcoin funding rates show demand to short BTC as $40K becomes resistance By Cointelegraph

Bitcoin funding rates show demand to short BTC as $40K becomes resistance By Cointelegraph

April 24, 2022

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Bitcoin funding rates show demand to short BTC as $40K becomes resistance

(BTC) consolidated under $40,000 on April 23 as market expectations favored further losses.

1-hour candle chart (Bitstamp). Source: TradingView

Data from Cointelegraph Markets Pro and TradingView followed a bearish BTC/USD after the pair touched $39,200 on Friday’s Wall Street open.

BTC funding rates chart. Source: Coinglass
Crypto Fear & Greed Index (screenshot). Source: Alternative.me

DXY resistance sought for BTC trend break

U.S. dollar currency index (DXY) vs. BTC/USD annotated chart. Source: Crypto Rover/ Twitter (NYSE:)
U.S. dollar currency index (DXY) 1-week candle chart. Source: TradingView