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Bitcoin has finally reclaimed the psychologically $90,000 level once again following a recent period of significant correction that brought it to trade as low as $74,000 in recent weeks.
So far, BTC has now steadily rebounded, rising by 13.1% in the past two weeks to currently trade at $90,279, marking a 3.3% increase in the past day.
This price movement has coincided with notable changes in derivatives data and on-chain behavior. CryptoQuant analysts have particularly pointed to the rise in funding rates on Bitcoin futures, alongside diverging actions between long-term and short-term holders.
Bitcoin Funding Rate Reversal Suggests Further Upward Move
CryptoQuant analyst known as ShayanBTC has drawn attention to the recent trend in Bitcoin futures funding rates, which have rebounded sharply following the market’s prior correction.
According to his analysis, the simultaneous decline in both price and funding rates during the sell-off pointed to a reduction in speculative positioning. This pattern bears resemblance to conditions between March and September 2024—a period marked by sideways movement before a notable rally.
Now that funding rates are rising again, it suggests that traders are becoming more aggressive in opening long positions. This shift may indicate growing confidence in continued upside potential.
If this trend sustains, Shayan notes that Bitcoin could test the $93,000 resistance level, a key area to watch before any attempt to challenge its all-time highs.
Funding rates are often viewed as sentiment indicators within the derivatives market, with positive rates reflecting increased demand for long exposure among traders.
Long-Term Holders Accumulate as Short-Term Participants Exit
A separate analysis from another CryptoQuant analyst, IT Tech, highlights a clear divergence in the behavior of different investor groups. Long-term holders (LTHs), defined as those holding BTC for more than 155 days, have resumed net accumulation for the first time since the last local market peak.
This shift suggests that experienced participants are beginning to reposition, potentially in anticipation of a broader recovery. LTH activity is typically associated with strategic investment decisions rather than short-term trading.
In contrast, short-term holders (STHs) continue to exit the market, with net position change data showing negative outflows. These movements are often driven by immediate price action and short-term volatility, and such capitulation has historically coincided with local market bottoms.
The combination of renewed LTH accumulation and STH exits may point toward the early stages of a re-accumulation phase—a setup that has previously supported future upward momentum in Bitcoin’s price.
Featured image created with DALL-E, Chart from TradingView
Meet Samuel Edyme, Nickname – HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others.
Edyme’s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis.
Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events—like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ’s arrest—has honed his keen sense of market dynamics.
When he isn’t crafting engaging crypto content, you’ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he’s catching some Z’s or scrolling through Elon Musk’s very own X platform—(oops, another screen activity, my bad…)
Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters—(don’t judge, that’s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or “kaizen,” striving to be 1% better every day. His mantras, “God knows best” and “Everything is still on track,” reflect his resilient outlook and how he lives his life.
In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He’s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck—unflappable. Edyme is like trading in your car for a jet—bold. He’s the guy who’d ask his boss for a pay cut just to prove a point—(uhhh…). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent—okay, maybe that’s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps.
Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That’s just not the way he roll. He has these favorite lyrics from NF’s “Clouds” that resonate deeply with him: “What you think’s probably unfeasible, I’ve done already a hundredfold.”
PS—Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He’s 100% Him-alayan. Screw it, he ate the opp.
Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
