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Wednesday

12 May 2021

Pro traders buy the Bitcoin price dip while retail investors chase altcoins

Pro traders buy the Bitcoin price dip while retail investors chase altcoins


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The rejection that took place after the $64,900 all-time high had a devastating impact on the sentiment of retail traders, as measured by the perpetual futures funding rate significant drop.

As this buying occurs, retail traders are mainly quiet, which is reflected in the neutral perpetual funding rate.

As depicted above, the perpetual futures (inverse swaps) 8-hour funding rate has been below 0.05% for the past couple of weeks.

This discrepancy is why retail traders tend to prefer perpetual futures, albeit with the varying carry cost caused by the funding rate changes.

This data is clear evidence that retail traders aren't comfortable adding Bitcoin long positions despite the 9% correction in two days.

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$54505.00

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News Article Sentiment

negative

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cointelegraph.com
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