I noticed an interesting signal in the Bitcoin market — the funding rate has dropped to -6%, which is one of the lowest levels in recent times. Such a negative rate usually indicates that shorts are dominating, creating conditions for a potential squeeze. I remember a similar situation a couple of months ago, but it ended quickly back then.

What’s interesting is that despite this bearish sentiment, open interest has increased from 668K to 687K BTC — people are not leaving the market; on the contrary, they are participating more actively. Over the past day, more than half a billion dollars have been liquidated, with longs suffering more than shorts. This looks like the market is preparing for a move — maybe this squeeze is already beginning.

Currently, Bitcoin is trying to rise above $64 000, although not long ago it fell to $63 000 due to geopolitical tensions. If the squeeze truly develops, shorts may start closing, which could give an upward impulse. We are watching the developments.