Bitcoin’s Ballet: Shorts Waltz to the Edge of the Cliff

Meanwhile, the perpetual futures funding rates, those silent arbiters of greed and fear, have sunk to -6%, according to the wise sages at CoinGlass. A sign, perhaps, of the shorts’ overzealous embrace of doom. The last time such despair reigned was on Feb. 6, when Bitcoin, ever the phoenix, rose from the ashes near $60,000.