Longest streak of negative funding rates in the 2020s
Strong momentum, but low volumes. Amid the solid trend, 30d funding rates remain negative and leverage in perps continues to grind higher, a factor that could amplify the impact of a short squeeze, which now seems increasingly likely to emerge.
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Highest since JanuaryBitcoin continues to build momentum, trading at its highest levels since January 2026 after a week of steady gains. Participation remains subdued, with low spot volumes, while leveraged exposure is rising and funding rates stay negative, increasing the potential for a short squeeze. On the macro and geopolitical side, tensions in the Strait of Hormuz continue to influence market sentiment, with rapid reactions to both escalation and de-escalation headlines. Meanwhile, the latest FOMC meeting exposed divisions within the Fed, as policymakers weighed persistent inflation risks against concerns over slowing growth, leading markets to lean toward a higher probability of a rate hike by ye
