PANews reported on February 28 that after the United States and Israel launched attacks on Iran, Bitcoin previously dropped to a low of $63,000 and is now attempting to recover to $64,000 amid potential short squeeze. Meanwhile, according to CoinGlass data, the perpetual contract funding rate fell to -6%, the second lowest level in the past three months. When the rate is positive, traders holding long positions pay fees to those holding short positions. When the rate turns negative, shorts pay longs. Deep negative funding rates typically indicate aggressive short positions and bearish sentiment, as traders are willing to pay a premium to maintain their bearish bets.
At the same time, over the past 24 hours, open interest measured in BTC increased from 668,000 BTC to 687,000 BTC. Measuring open interest in BTC terms can eliminate distortions caused by price fluctuations. The rise in open interest amid negative funding rates suggests increasing market participation, with more traders positioning for further declines.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Brazilian legislation passes to include seized cryptocurrencies into the "Public Safety Fund," while simultaneously expanding law enforcement and freezing powers.
Brazilian President Lula signed Law No. 15,358, incorporating seized cryptocurrencies into public safety funds for upgrading security and law enforcement training. The new law expands law enforcement powers, allowing asset freezes of suspects and imposing permanent bans on convicted individuals, strengthening efforts against transnational crime and money laundering. This move signifies Brazil's recognition of digital assets as an important law enforcement resource.
動區BlockTempo6m ago
Marathon Digital, the world's largest Bitcoin miner, makes a major policy shift: starting in 2026, they will allow the sale of Bitcoin on their balance sheet.
Marathon Digital, the world's largest Bitcoin miner, announced that starting in 2026, it will change its treasury policy. The company will not only sell Bitcoin earned from mining but also sell long-term held Bitcoin to meet market demand. This strategic shift reflects how miners are adjusting their financial strategies amid market volatility and cost pressures to maintain flexibility. In 2025, the company recorded significant losses, and mining output declined, but hash rate continued to expand.
ChainNewsAbmedia7m ago
Saylor Controls Most Corporate Bitcoin Holdings
The story of corporate Bitcoin ownership has changed dramatically in recent months. Michael Saylor now stands at the center of this shift. His firm, MicroStrategy, recently rebranded as Strategy, continues to accumulate Bitcoin at an unmatched pace. This aggressive approach has pushed corporate
Coinfomania8m ago
Bitcoin’s quantum gap could bolster Ethereum, says Nic Carter
Bitcoin’s cryptographic foundations are once again in the spotlight as prominent voices warn that post-quantum security will soon demand more than minor tweaks. Crypto entrepreneur Nic Carter has pressed Bitcoin developers to confront the quantum threat head-on, arguing that Ethereum already
CryptoBreaking11m ago
