An analysis suggests that the bias towards short positions in the BTC futures market is deepening. According to CoinDesk, James Aitchison, founder and Chief Investment Officer (CIO) of Caerus Global, stated at the Consensus event in Miami, USA, "The BTC funding rate is moving around -4% on an annualized basis. This is a rare structure where long position investors actually receive funding fees. This situation reflects a discrepancy within the derivatives market. In fact, even when the BTC price surpassed $75,000 last April, the funding rate dropped to its lowest level since 2023. In the past, similar phenomena were followed by a mid-to-long-term upward trend in BTC."
