The decline in the Bitcoin (BTC) price this week may be necessary for the price to move higher.
Adam Cochran, manager of the Cinneamhain Ventures fund, commented on the withdrawal in Bitcoin price.
The size of open positions on Bitcoin exchanges was approximately at the end of the week, mostly from Binance. to 12 billion dollars reached.
Cochran said the funding rate at Binance is 10.95%; The rate at Bybit is annual up to 40% he emphasized. Unlike the spot market, continuous futures contract markets have to stay balanced Cochran, who said that it was, made the following comment:
“If everyone in a market thinks the winning side is obvious, the market will have to punish that side. This happens either through funding rates or liquidations. That’s why a healthy market needs liquidation to continue rising.”
Cochran, Bitcoin or $42,000 level to keep or “A strong return from $38,000 in the worst case scenario” wants.
The analyst finally “As the market accelerates, so does volatility. “Trading strategies that worked in a bear market don’t work here.” your comment made.