Bitcoin funding rate turns slightly negative as markets awaits Fed interest rate decision

2023-3-22 20:19

Quick Take The futures perpetual funding rate has turned negative for the first time since March 14. Bearish sentiment could start to creep in as a 25bps rate hike looks to be confirmed by the markets for tomorrow’s FOMC meeting. Jerome Powell will also discuss the new fed dot plot and future economic projections, which will tell us more than a potential 25bps rate hike. Investors who have been short Bitcoin have had a terrible year so far, but we will expect a lot of volatility tomorrow. Fed Rate Hike: (Source: CME) Futures Perpetual Funding Rate: (Source: Glassnode)

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