Bitcoin perpetual funding rate turns negative ahead of CPI print – perspective turns bearish 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 12:30 GMT, Bitcoin is being shorted.
- While options 25 delta skew suggests, puts are at a premium to suggest slight bearish sentiment heading into CPI.
Analyst 
James Van Straten
James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century's paramount invention.
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Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
