Positive funding rates indicate that long position traders are dominant and are willing to pay funding to short traders.
The last time funding rates were this high was in April 2021. Bitcoin subsequently collapsed from above $60,000 to below $30,000 just three months later.
Recent data from the U.S. Commodities Futures Trading Commission (CFTC) shows record futures short positions from hedge funds and commodity trading advisors (CTAs).
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