Analysis: BTC perpetual funding rates remain positive, suggesting a bullish outlook

Notional open interest in Bitcoin futures has decreased by 18% from $37 billion to $30.2 billion over the past month, according to CoinDesk, which cited data from Coinglass. During the same period, Bitcoin's spot price declined by 14%. Despite this, the open interest has remained above 500,000 BTC over the past four weeks, suggesting that while the dollar value of positions has decreased, the number of contracts has remained relatively stable. In addition, perpetual funding rates have remained consistently positive, indicating that long positions are paying short positions. This suggests that traders in perpetual futures markets are maintaining a bullish outlook, CoinDesk explained.