Bitcoin funding rate has turned positive as liquidations soar over $230M

Quick Take

• The perpetual funding rate for Bitcoin flipped positive this morning, which has seen Bitcoin shorts rekt and take crypto liquidations in the past 24 hours to $240 million.
• The majority of the liquidations are short liquidations at roughly $190m.
• While the three largest Bitcoin cohorts have started accumulating over the weekend, I would suggest retail would follow sharply as smart money moves first.

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