Bitcoin Cash

Bitcoin ETF

April

Gold

Celestia

<div class="finbold">
 <p class="paragraph">Two cryptocurrencies among the highest open interests in the market currently have negative funding rates, potentially indicating a buy signal.</p>
 <p class="paragraph">The negative funding rates mean short-sellers must pay an interest rate to long-position traders for as long as they keep the short positions open. Therefore, these traders could face liquidation through a short squeeze or be forced to close their positions, potentially impacting prices.</p>
 <p class="paragraph">Looking for insights, Finbold turned to <em>CoinGlass</em>‘s <a rel="noopener noreferrer nofollow" title="funding" href="https://thebittimes.com/tag/funding.html">funding</a> <a rel="noopener noreferrer nofollow" title="rates" href="https://thebittimes.com/tag/rates.html">rates</a> heatmap on April 23. We ordered the chart by <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currencies with the highest open interest (OI) and spotted two possible buy <a rel="noopener noreferrer nofollow" title="signal" href="https://thebittimes.com/tag/signal.html">signal</a>s to consider.</p>
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    </path> <path d="M15.996 18.6668L20.4626 14.2815C20.738 14.0166 20.9571 13.6989 21.1068 13.3473C21.2564 12.9957 21.3336 12.6176 21.3336 12.2355C21.3336 11.8534 21.2564 11.4752 21.1068 11.1236C20.9571 10.7721 20.738 10.4543 20.4626 10.1895C19.9074 9.64148 19.1587 9.33422 18.3786 9.33422C17.5985 9.33422 16.8498 9.64148 16.2946 10.1895L15.996 10.4801L15.6973 10.1881C15.1423 9.64023 14.3938 9.33301 13.614 9.33301C12.8341 9.33301 12.0856 9.64023 11.5306 10.1881C11.2552 10.453 11.0361 10.7707 10.8865 11.1223C10.7368 11.4739 10.6597 11.852 10.6597 12.2341C10.6597 12.6162 10.7368 12.9944 10.8865 13.346C11.0361 13.6975 11.2552 14.0153 11.5306 14.2801L15.996 18.6668Z" fill="#EF4444"> 
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 <h2 class="wp-block-heading" id="h-bitcoin-cash-bch-short-squeeze">Bitcoin Cash (BCH) short squeeze</h2>
 <p class="paragraph">In particular, Bitcoin Cash (BCH) ranks as the seventh largest cryptocurrency by open interest, with only the 14th largest capitalization. The popular Bitcoin (BTC) competitor has around $337 million in open interest while holding a $10 billion market cap.</p>
 <p class="paragraph">As for the <a rel="noopener noreferrer nofollow" title="funding" href="https://thebittimes.com/tag/funding.html">funding</a> <a rel="noopener noreferrer nofollow" title="rates" href="https://thebittimes.com/tag/rates.html">rates</a>, BCH has the most significant <a rel="noopener noreferrer nofollow" title="negative" href="https://thebittimes.com/tag/negative.html">negative</a> APR among the top 10 <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currencies by OI. With a <a rel="noopener noreferrer nofollow" title="negative" href="https://thebittimes.com/tag/negative.html">negative</a> 10.61% <a rel="noopener noreferrer nofollow" title="funding" href="https://thebittimes.com/tag/funding.html">funding</a> rate, short-sellers might be pressed to close their positions.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="516" src="https://cdn.thebittimes.com/images/2024/04/23/a393e719943db1307024b02b06ec055a.webp" alt class="wp-image-171128" srcset="https://cdn.thebittimes.com/images/2024/04/23/a393e719943db1307024b02b06ec055a.webp 1024w, https://cdn.thebittimes.com/images/2024/04/23/a393e719943db1307024b02b06ec055a.webp 300w, https://cdn.thebittimes.com/images/2024/04/23/a393e719943db1307024b02b06ec055a.webp 768w, https://cdn.thebittimes.com/images/2024/04/23/a393e719943db1307024b02b06ec055a.webp 1536w, https://cdn.thebittimes.com/images/2024/04/23/a393e719943db1307024b02b06ec055a.webp 1832w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Funding Rate Heatmap, 30-day chart by Open Interest (OI), BCH. Source: <em>CoinGlass</em>
  </figcaption>
 </figure>
 <p class="paragraph">Interestingly, Bitcoin Cash has seen an increase in upward liquidity pools due to leveraged liquidation accumulations. As reported by Finbold, this has triggered a short squeeze alert for this week. So far, BCH has not yet been squeezed, which increased the potential of the above negative funding rates buy signal.</p>
 <p class="paragraph">By press time, the maiden cryptocurrency was trading at $510, with a potential surge to above $700.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="528" src="https://cdn.thebittimes.com/images/2024/04/23/5529cc3c426a8048f035d585f6f3ee51.webp" alt class="wp-image-171131" srcset="https://cdn.thebittimes.com/images/2024/04/23/5529cc3c426a8048f035d585f6f3ee51.webp 1024w, https://cdn.thebittimes.com/images/2024/04/23/5529cc3c426a8048f035d585f6f3ee51.webp 300w, https://cdn.thebittimes.com/images/2024/04/23/5529cc3c426a8048f035d585f6f3ee51.webp 768w, https://cdn.thebittimes.com/images/2024/04/23/5529cc3c426a8048f035d585f6f3ee51.webp 1536w, https://cdn.thebittimes.com/images/2024/04/23/5529cc3c426a8048f035d585f6f3ee51.webp 1838w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   BCH Liquidation Heatmap, 1-month chart, BCH. Source: <em>CoinGlass</em>
  </figcaption>
 </figure>
 <h2 class="wp-block-heading" id="celestia-tia-negative-funding-rates">Celestia (TIA) negative funding rates</h2>
 <p class="paragraph">The next most relevant negative funding rates buy signal goes for Celestia (TIA), with nearly 24% APR. Celestia occupies the 27th position by open interest.</p>
 <figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="516" src="https://cdn.thebittimes.com/images/2024/04/23/fffe589b5e314238fb6a696864df1ad3.webp" alt class="wp-image-171130" srcset="https://cdn.thebittimes.com/images/2024/04/23/fffe589b5e314238fb6a696864df1ad3.webp 1024w, https://cdn.thebittimes.com/images/2024/04/23/fffe589b5e314238fb6a696864df1ad3.webp 300w, https://cdn.thebittimes.com/images/2024/04/23/fffe589b5e314238fb6a696864df1ad3.webp 768w, https://cdn.thebittimes.com/images/2024/04/23/fffe589b5e314238fb6a696864df1ad3.webp 1536w, https://cdn.thebittimes.com/images/2024/04/23/fffe589b5e314238fb6a696864df1ad3.webp 1832w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Funding Rate Heatmap, 30-day chart by Open Interest (OI), TIA. Source: <em>CoinGlass</em>
  </figcaption>
 </figure>
 <p class="paragraph">However, unlike Bitcoin Cash, the layer-1 blockchain native token has a neutral liquidation heatmap, which weakens the buy signal even with the high observed funding rate. Finbold previously reported a sell signal for Celestia due to overbought conditions.</p>
 <p class="paragraph">This is a clear demonstration of how unpredictable the cryptocurrency market is. Crypto traders must consider different factors to make profitable decisions while remaining cautious and having a solid risk management strategy.</p>
 <p class="paragraph"><strong><em>Disclaimer</em></strong><em>: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/buy-signal-for-two-cryptocurrencies-with-negative-funding-rates-tbt86255.html">https://thebittimes.com/buy-signal-for-two-cryptocurrencies-with-negative-funding-rates-tbt86255.html</a></p>

Buy signal for two cryptocurrencies with negative funding rates

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