Crypto
Bitcoin perpetual funding rate turns negative ahead of CPI print – perspective turns bearish
![Bitcoin perpetual funding rate turns negative ahead of CPI print – perspective turns bearish Bitcoin perpetual funding rate turns negative ahead of CPI print – perspective turns bearish](https://i0.wp.com/cryptoslate.com/wp-content/uploads/2023/01/bitcoin-Insights-2.jpg?resize=780%2C470&ssl=1)
Quick Take
Bitcoin was heavily shorted from the 10th to the 13th of March on the news of contagion around the regional banks.
Yesterday, Bitcoin broke $24,000 as the perpetual funding rate showed investors were going long and open interest increased.
However, ahead of the CPI print today at 1:30 GMT, Bitcoin is being shorted.
While options 25 delta skew suggests, puts are at a premium to suggest slight bearish sentiment heading into CPI.
![Options 25 Delta Skew: (Source: Glassnode)](https://cryptoslate.com/wp-content/uploads/2023/03/options.png)
![Futures Perpetual Funding Rate: (Source: Glassnode)](https://cryptoslate.com/wp-content/uploads/2023/03/perps1.png)
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