Bitcoin funding rates turn positive: Is BTC rally to $85K next?
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- Bitcoin perpetual futures annualized funding rate jumped to 6% on Monday, entering neutral‑to‑bullish territory for the first time in over a month.
- ETF outflows on Thursday and Friday from US‑listed spot Bitcoin ETFs coincided with Bitcoin's failure to break $82,000, fueling bearish sentiment.
- Iren announced a $34 billion deal with Nvidia to pivot its mining hardware toward high‑performance AI computing.
- Core Scientific revealed plans to expand its mining campus in Muskogee, Oklahoma, underscoring continued investment despite a recent hashrate dip.
- Bitcoin options delta skew held at 10% on Monday, with put options trading at a premium, indicating market makers' discomfort with downside risk.
Why it matters: Institutional investors see a modest bullish signal in the 6% funding rate, but net ETF outflows and cautious options pricing suggest downside risk, while miners' AI deals show diversification amid a stable hashrate.
