Quick Take
- Bitcoin was heavily shorted from the 10th to the 13th of March on the news of contagion around the regional banks.
- Yesterday, Bitcoin broke $24,000 as the perpetual funding rate showed investors were going long and open interest increased.
- However, ahead of the CPI print today at 1:30 GMT, Bitcoin is being shorted.
- While options 25 delta skew suggests, puts are at a premium to suggest slight bearish sentiment heading into CPI.
![Options 25 Delta Skew: (Source: Glassnode)](https://cryptoslate.com/wp-content/uploads/2023/03/options.png)
![Futures Perpetual Funding Rate: (Source: Glassnode)](https://cryptoslate.com/wp-content/uploads/2023/03/perps1.png)
The post Bitcoin perpetual funding rate turns negative ahead of CPI print – perspective turns bearish appeared first on CryptoSlate.
Source: https://cryptoslate.com/insights/bitcoin-perpetual-funding-rate-turns-negative-ahead-of-cpi-print-perspective-turns-bearish/