Key takeaways:
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The Bitcoin funding rate has temporarily been negative in late June, in the history of a signal for upcoming rallies.
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A large concentration of short fluids near $ 111,320 can fuel a short squeeze.
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The BTC has been damaged by a bull flag, targeting $ 117,500, new research suggests.
Bitcoin (Btc) The ongoing rate of future funding was submerged in negative territory in late June, a period of time that saw BTC price increases up to about $ 108,000 from the bottom $ 100,000.
Such a difference -Ing implies a major price boom in advance for Bitcoin, history may indicate.
BTC Bulls can trigger a short squeeze
A negative funding rate Short position holders mean long merchants to keep their positions open, a sign of sentiment in the Bearish market.
However, a negative funding rate during a general price increase often results in a very many short trade weak in a Short squeeze.
In the case of Bitcoin, similar funding rates flipped in September 2024 and July 2023 preceded 80% and 150% acquisitions, respectively.
The latest recovery of BTC funding to positive mirrors in the territory of previous setups, suggesting that bearish resetting may have played and the market is again preparing for a fresh leg higher.
Related: Bitcoin’s Bitcoin cost basis suggests $ 117K the next stop for BTC price
The level of $ 111,320 In pairs of BTC/USDT shows the highest concentration of predicted fluids over the past three months, approximately $ 520.31 million in leveraged positions at risk, according to Coinglass data.
This liquidity can be a short squeeze, in which forced purchases from short entrepreneurs are driving prices higher.
Bitcoin targets $ 117,500 after Bull Flag Breakout
Meanwhile, the technical bitcoins, show a breakout conducted above the upper trend of a bull flag pattern in the sun -day chart.
Based on the previous flagpole, the measured pattern transfer points to a potential target near $ 117,500, closely aligned with the research leader of 10X Research, Markus Thielen’s $ 116,000 forecast For the end of July.
This article does not contain investment advice or recommendations. Every transfer of investment and trading involves risk, and readers should conduct their own research when deciding.
