Leveraged sell-off drives Bitcoin down to $56K during negative funding rate spike

Quick Take This past week, Bitcoin experienced significant price fluctuations around the $60,000 mark, briefly moving above and below this level before stabilizing. On Aug. 15, funding rates for Bitcoin dropped as low as 7%, according to Coinglass, a stark contrast to the typical positive rates that result in long positions paying short positions. With […] source: https://cryptoslate.com/insights/leveraged-sell-off-drives-bitcoin-down-to-56k-during-negative-funding-rate-spike/