Bitcoin slips to $107K as funding rate turns negative, signaling rising short interest.
Solana drops 4.7% to $170, holding the sixth-lowest funding rate among tracked crypto assets.
Cardano drops 3.25% and BNB slides 1.3% amid rising bearish sentiment in the market.
As Bitcoin’s funding rate turned negative, the cryptocurrency market turned more bearish as the price of Bitcoin dropped to $107,486.36, resulting in a 2.32% drop in one day. Glassnode data shows that Bitcoin futures funding rates have turned negative, indicating a rise in short positions. Similar bearish indicators are also present in Binance Coin (BNB), Cardano (ADA), and Solana (SOL).
$BTC funding rate just flipped negative. Shorts are quietly building across the top 10, with $BNB and $ADA both showing signs of pressure. Notably, #Solana now ranks as the 6th lowest funding rate among all assets you can track on Glassnode Studio: https://t.co/xqigM0dgzP pic.twitter.com/CRZvfiGVkZ
— glassnode (@glassnode) May 28, 2025
Negative Funding Rates Indicate Rising Bearish Sentiment
Bitcoin’s funding rate recently turned negative at a key price level, suggesting more sellers than buyers are now…
The post BTC, SOL, BNB, and ADA Funding Rate Flips Negative—Is the Crypto Market Bracing for a Drop? appeared first on Coin Edition.
