So, Bitcoin (BTC) is just hanging out, like that friend who shows up to the party but doesn’t really want to dance. It’s been stuck in a range for the past week, just below its latest all-time high (ATH) of $111,980, which it hit on May 21. You’d think it would be throwing confetti, but nope! Speculative activity is as lively as a sloth on a Sunday afternoon, with funding rates on Binance – one of the biggest crypto exchanges – chilling in neutral territory. 🥱
Bitcoin Funding Rates: The Neutral Zone Strikes Back!
According to a recent CryptoQuant Quicktake post by contributor Amr Taha (who I assume is a wizard of crypto), Bitcoin funding rates on Binance are practically at zero. This means that retail traders are not going all-in like they’re at a Vegas buffet – which is actually a good sign for the sustainability of this ongoing rally. Who knew being cautious could be so… boring? 😴
For those of you who are like, “What the heck are funding rates?” – they’re basically payments exchanged between long and short traders in perpetual futures contracts. Think of it as a weird game of Monopoly where you pay rent to your friends based on who’s winning. When the rate is positive, long traders pay shorts, and when it’s negative, shorts pay longs. It’s like a financial tug-of-war, but with less mud and more spreadsheets.
Right now, with funding rates near zero, it’s like a balanced diet between bulls and bears. Neither side is going crazy with leverage, which means we might avoid a dramatic price crash. Phew! 🙌
But wait, there’s more! Taha also pointed out that there were some long-side liquidations when BTC dipped below two key price levels: $108,500 and $107,500. These moments were captured in the Bitcoin Buy/Sell Pressure Delta (90) chart below, which looks like a rollercoaster ride of cautious market participation. 🎢
If these funding rates keep hanging around zero, we might just see BTC’s price grow sustainably. Combine that with the current Buy/Sell Pressure Delta – which is still way below previous peak levels – and we could be looking at some serious upside potential. Fingers crossed! 🤞
New Investors: Where Are You? 👀
While neutral funding rates give us hope for price appreciation, on-chain data is throwing some shade. The Unspent Transaction Output (UTXO) Age Band distribution shows that new investors – those who’ve been holding BTC for less than a month – are as sluggish as a turtle in a marathon. 🐢
In another Quicktake post, analyst Avocado_onchain (yes, that’s their name, and yes, I’m jealous) noted that the share of new investors has been stuck around 30% during this cycle, compared to over 50% in past bull runs. They warned:
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2025-05-30 11:15