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

by Mike Robinson

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As resistance to Bitcoin, the funding rates for bitcoin show that there is demand to shorten BTC at $40K

(BTCAs market expectations favor further losses, ), consolidated below $40,000 on April 23,

1-hour candle chart (Bitstamp). TradingView

Source: Cointelegraph Markets Pro TradingViewAfter the USD/BTC pair reached $39,200 at Friday’s Wall Street Open on Friday, a bearish trend was observed.

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

DXY resistance needed for BTC trend breaking

U.S. currency index (DXY), vs. Bitcoin/USD annotated graph. Source: Crypto Rover/ Twitter
U.S. currency index (DXY), 1-week candle chart. TradingView