NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

As Bitcoin Pushes $11,500 Top, Funding Rates Drop: Why This Is Bullish

Nick Chong
Nick Chong
1 year ago
2 mins read
bitcoin

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Earlier this week, Bitcoin topped out at $11,500 — a historically important price point. The leading cryptocurrency proceeded to drop by approximately 7% to $10,600 in the 24 hours that followed the high.

After consolidating between $10,800-11,200, Bitcoin is breaking higher once again. Just minutes ago, BTC pierced $11,400 for the first time since the aforementioned highs.

Chart of BTC's price action over the past few days from TradingView.com

While some are fearing a similar rejection to the one Bitcoin faced earlier this week, derivatives data shows that BTC is now in a healthier position. This means that BTC may be able to move above $11,500 for the first time in approximately a year.

Related Reading: Crypto Tidbits: Ethereum Surges 20%, US Banks Can Hold Bitcoin, DeFi Still in Vogue

Bitcoin Derivatives “Healthier” Than Last Time BTC Hit $11,500

When Bitcoin was rallying earlier this week, a problem that many analysts discussed was the high rates of funding Bitcoin futures owners were paying. Funding is the rate that long positions pay short positions in a perpetual swap market to normalize the price of the contract to the price of the underlying contract.

High rates of funding indicate that buyers of a perpetual swap are overextended compared to bears. High rates of funding are often seen before the price of the contract correct, just as Bitcoin did on Monday and Tuesday.

But things have changed since Monday and Tuesday. According to a funding rates dashboard shared by a trader, funding rates are now normalizing towards base levels around 0.01% every eight hours.

Image

Table of BTC's funding rates across top perpetual swap futures markets. Data shared by Byzantine General (@Byzgeneral on Twitter).

Most perpetual swap markets, like those on Binance and BitMEX and ByBit, have reached levels suggesting buyers are only slightly outweighing bears.

This indicates that Bitcoin has room to move higher.

Related Reading: Unexpected Factor That Suppressed BTC Bulls in 2019 Is Now Gone

$12,000 Imminent?

As long as Bitcoin moves above $11,400 and $11,500, analysts think that a move to $12,000 is imminent.

Kelvin Koh, a partner at The Spartan Group and former partner at Goldman Sachs, wrote on July 31st:

“If $BTC breaks the resistance at $11.4K, we are going above $12K in no time. Will take the wind out of alts again short term.”

This has been echoed by other analysts. As reported by NewsBTC, the same trader that predicted Bitcoin would bottom at $3,200 in 2018 said:

“$btc consolidating above a pretty key breakout level. price contracting, volume declining, seems bullish, continuation soon.”

He thinks that BTC will soon hit $12,000.

Related Reading: On-Chain Metric Signals the BTC Market Isn’t Overheated: Why This Is Bullish
Featured Image from Shutterstock
Price tags: xbtusd, btcusd, btcusdt
Charts from TradingView.com 
As BTC Pushes $11,500 Top, Funding Rates Drop: Why This Is Bullish
Tweet123Share196ShareSend
Nick Chong
Nick Chong

Nick Chong

I am a writer who has been following Bitcoin for years now. My insights and interviews have been featured in leading publications in the industry such as LongHash and Decrypt. I own a small amount of Bitcoin.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Litecoin Surges Past Descending Resistance – Bulls Target $97.10 Level

Litecoin Surges Past Descending Resistance – Bulls Target $97.10 Level

Litecoin (LTC) is back in the spotlight as bullish momentum sweeps across the crypto market. After months of volatility and...

Sebastian Villafuerte 2 hours ago
Bitunix bonus krypto giełda promocja USDT

Nowa promocja Bitunix. Bonus w wysokości 2410 USDT na start

Bitunix – jedna z najszybciej rozwijających się giełd krypto – wystartował z nową kampanią promocyjną, która potrwa aż do 20...

News BTC 2 hours ago
Dogecoin

Analysts Predict Major Dogecoin Price Rally After Breaking 50-Day Trendline

The Dogecoin price may be setting up for a significant rally as a technical analyst identifies a bullish breakout above...

Scott Matherson 3 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Dogecoin

Dogecoin Bounces Back With 8% Gain—Is $0.26 In Sight?

Keshav Verma 48 minutes ago
Bitcoin Price Coiling Up

Bitcoin Price Coiling Up — Is a Surge Past $110K on Deck?

Aayush Jindal 1 hour ago

Ethereum Liquid Staking Hits New ATH With 35.5 Million ETH Locked – Will Price Follow?

Ash Tiwari 1 hour ago

Premium Sponsors

Press Releases

  • Top kryptoměna ke koupi dříve, než vzroste o 2 200 %, podle Cathie Wood

    Top kryptoměna ke koupi dříve, než vzroste o 2 200 %...

    5 hours ago
  • The smartest way to make money in 2025: Invest in cloud...

    12 hours ago
  • Od Bitcoinu k BTC Bull: Kde leží skutečný potenciál?

    ...

    12 hours ago
  • Bitcoin vs. Gold: Which Is the Best Investment In 2025?

    12 hours ago
  • Profit of $5,735, senior trader uses Ripple (XRP) to open...

    12 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.