A key metric called perpetual financing rates is to point out optimism for high alternatives such as bitcoins
The traditionally weak quarter of the third quarter begins with flat price action.
Financing rates, charged by exchanges every eight hours, refer to the cost of maintaining short or bassist positions in the perpetual (Pers) futures (without expiration).
A positive financing rate indicates that the Persses are quoted with a premium at the spot price, which requires a length payment to shorts to maintain bullish bets. Therefore, positive rates are interpreted as representing the upward feeling, while negative rates suggest otherwise.
At the time of writing, the perses linked to Token Token focused on XRP payments
The world’s largest digital active room by market value, had an annualized financing rate of almost 11%, the highest among the 10 main tokens, according to the veil data source. The financing rates for TRX and Dogecoin of Tron were 10% and 8.4%, respectively, while the rates for the leaders of the Bitcoin and Ether market were marginally positive.
In other words, the XRP market demonstrated the greatest demand for bullish bullish exposure among other important cryptocurrencies, including BTC and Ether
. That is consistent with the peak in the upward feeling for XRP last week, despite the settlement between Ripple and the Sec Stalling, as Santimento pointed out.
Center centered on privacy
It was among the chips beyond the list of the main 10 with a financing rate of more than 23%, while Stellar’s Token XLM pointed out a strong bias for bearish bets with a 24%financing rate.
Seasonally weak trimester
Historically, the third quarter has been a weak period for Bitcoin, with data that indicates an average profit of 5.57% since 2013, according to Coinglass. That is far compared to the average gain of 85% of the fourth quarter.
The BTC spot price remained stable at around $ 107,000 at the time of publication, not offering a clear steering bias. The valuations have been largely stuck between $ 100,000 and $ 110,000 for almost 50 days, with the sale of long -term holders wallet (ETF).
However, some analysts expect a significant movement to occur soon, with all the eyes in the speech of the president of the FED, Jerome Powell, Tuesday and the release of non -agricultural payrolls on Friday.
