Cryptocurrency trading firm QCP Capital stated that rising funding rates in the cryptocurrency market could be a harbinger of a correction.
QCP Capital took a closer look at the cryptocurrency market in its analysis dated February 21. Analysts stated that the recent rises in the market have brought many cryptocurrencies to their highest level in recent months. warns of rising funding rates.
According to the data presented, specifically for altcoins cost of opening a position (funding rate) rising for some parities to 40% It went up to . The return on Bitcoin and Ethereum futures is also to 17% reached. It was warned that increasing funding rates and the high number of transactions could bring about a decline.
on the other hand NVDIA Stating that the fourth quarter 2023 balance sheet report will serve as a catalyst, the QCP front said that the data to be announced is critical in determining the direction. NVDIA shared a positive report yesterday evening and artificial intelligence driven crypto There was an increase in the overall market, especially in money projects.