Quick Take
- The futures perpetual funding rate has turned negative for the first time since March 14.
- Bearish sentiment could start to creep in as a 25bps rate hike looks to be confirmed by the markets for tomorrow’s FOMC meeting.
- Jerome Powell will also discuss the new fed dot plot and future economic projections, which will tell us more than a potential 25bps rate hike.
- Investors who have been short Bitcoin have had a terrible year so far, but we will expect a lot of volatility tomorrow.
The post Bitcoin funding rate turns slightly negative as markets awaits Fed interest rate decision appeared first on CryptoSlate.
Source: https://cryptoslate.com/insights/bitcoin-funding-rate-turns-slightly-negative-as-markets-awaits-fed-interest-rate-decision/