Data shows the Bitcoin Funding Rate for the perpetual futures market has 
turned positive recently, a sign that bullish positions are dominating. 
Bitcoin Funding Rates Have Been Green Recently In a new post on X, analytics 
firm Glassnode has discussed the latest trend in the Bitcoin Funding Rate. 
This metric measures the average amount of periodic fees that perpetual 
futures traders are paying each other on the various centralized exchanges 
right now. Related Reading: Chainlink Whales Are Accumulating: Wallets Hit New 
All-Time High When the value of this indicator is positive, it means long 
contract holders are paying a premium to the short investors. Such a trend 
implies a bullish sentiment is dominant in the market. On the other hand, the 
metric being below zero suggests a bearish mentality may be shared by the 
majority of futures market traders, as shorts are outweighing the longs. Now, 
here is the chart shared by Glassnode that shows the trend in the Bitcoin 
Funding Rate over the last few months: As displayed in the above graph, the 
Bitcoin Funding Rate dipped into the negative territory as the cryptocurrency 
recovered during April and the first half of May. April in particular saw 
significant negative spikes in the indicator, implying a heavy bias toward 
short positioning. Since these bets went against the price trend, they ended 
up getting liquidated as the cryptocurrency marched higher. The market bias 
began to shift in mid-May, with the average Funding Rate reversing into the 
green zone. Today, the indicator is sitting at a notable positive level, 
suggesting that investors are betting on a bullish outcome for the 
cryptocurrency. Interestingly, this bias toward long positions has been 
maintained despite the fact that Bitcoin has retraced some of its recovery. 
One pullback has come in the last 24 hours, and since there has been an excess 
of long positions, a significant amount of liquidations related to them have 
followed, according to data from CoinGlass. From the above heatmap, it&#8217;s 
visible that Bitcoin-related positions have suffered a total of $104 million 
in liquidations over the past day. Out of these, more than $85 million of the 
contracts involved have been bullish bets. Related Reading: Render Jumps 30% 
As Key On-Chain Metrics Break Out If the current market trajectory continues 
in the near future, it&#8217;s possible that more long liquidations could follow, 
considering the current high value on the Funding Rate. A sharp enough decline 
could even trigger a long squeeze, a volatile event where a cascade of bullish 
liquidations is unleashed. It only remains to be seen, though, how the market 
will develop. BTC Price Bitcoin is back at the $75,900 mark following its 
latest pullback. Featured image from Dall-E, chart from TradingView.com

Data shows the Bitcoin Funding Rate for the perpetual futures market has turned positive recently, a sign that bullish positions are dominating. Bitcoin Funding Rates Have Been Green Recently In a new post on X, analytics firm Glassnode has discussed the latest trend in the Bitcoin Funding Rate. This metric measures the average amount of &#8230;

Bitcoin Pulls Back, But Futures Traders Turn Bullish: Long Squeeze Setup?

Centralizing software procurement could streamline defense operations, reduce 
costs, and set a precedent for future government IT contracts.
The post Pentagon awards Microsoft $9.7B deal to centralize software licenses 
appeared first on Crypto Briefing.

Centralizing software procurement could streamline defense operations, reduce costs, and set a precedent for future government IT contracts. The post Pentagon awards Microsoft $9.7B deal to centralize software licenses appeared first on Crypto Briefing.

Pentagon awards Microsoft $9.7B deal to centralize software licenses

TSMC&#8217;s profit-sharing boost may attract top talent but could strain resources 
if growth slows, impacting dividends and long-term investments.
The post TSMC CEO C.C. Wei announces over 30% profit-sharing increase for 
staff appeared first on Crypto Briefing.

TSMC&#8217;s profit-sharing boost may attract top talent but could strain resources if growth slows, impacting dividends and long-term investments. The post TSMC CEO C.C. Wei announces over 30% profit-sharing increase for staff appeared first on Crypto Briefing.

TSMC CEO C.C. Wei announces over 30% profit-sharing increase for staff

Bitcoin price started a fresh decline below the $75,500 zone. BTC is 
consolidating and might struggle to stay above the $74,000 support. Bitcoin 
failed to stay above $76,000 and extended losses. The price is trading below 
$75,500 and the 100 hourly simple moving average. There is a bearish trend 
line forming with resistance at $74,850 on the hourly chart of the BTC/USD 
pair (data feed from Kraken). The pair might extend losses if it stays below 
the $75,000 and $75,500 levels. Bitcoin Price Dips Further Bitcoin price 
failed to stay above the $76,200 support zone. BTC remained in a bearish zone 
and extended losses below the $75,800 level. There was a move below the 
$75,500 level. The price even dipped below $75,000. A low was formed at 
$74,050 and the price is now consolidating losses. It is still struggling 
below the 23.6% Fib retracement level of the downward move from the $77,810 
swing high to the $74,050 low. Bitcoin is now trading below $75,000 and the 
100 hourly simple moving average. If the price remains stable above $74,000, 
it could attempt a fresh increase. Immediate resistance is near the $74,800 
level. There is also a bearish trend line forming with resistance at $74,850 
on the hourly chart of the BTC/USD pair. The first key resistance is near the 
$75,500 level. A close above the $75,500 resistance might send the price 
further higher. In the stated case, the price could rise and test the $75,950 
resistance or the 50% Fib retracement level of the downward move from the 
$77,810 swing high to the $74,050 low. Any more gains might send the price 
toward the $76,400 level. The next barrier for the bulls could be $77,800. 
More Losses In BTC? If Bitcoin fails to rise above the $75,950 resistance 
zone, it could start another decline. Immediate support is near the $74,000 
level. The first major support is near the $73,500 level. The next support is 
now near the $73,200 zone. Any more losses might send the price toward the 
$72,000 support in the near term. The main support now sits at $70,000, below 
which BTC might struggle to recover in the near term. Technical indicators: 
Hourly MACD – The MACD is now gaining pace in the bearish zone. Hourly RSI 
(Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. 
Major Support Levels – $74,000, followed by $73,500. Major Resistance Levels – 
$74,850 and $75,950.

Bitcoin price started a fresh decline below the $75,500 zone. BTC is consolidating and might struggle to stay above the $74,000 support. Bitcoin failed to stay above $76,000 and extended losses. The price is trading below $75,500 and the 100 hourly simple moving average. There is a bearish trend line forming with resistance at $74,850 &#8230;

Bitcoin Price Extends Decline Rapidly As Key Supports Collapse

BTC spot volume has plunged across major exchanges, reviving comparisons with 
the late-stage bear market conditions that preceded the 2023 recovery. Binance 
activity fell from $198.6 billion to $36.4 billion, part of a broad market 
slowdown. Volume Collapse Revives 2023 Bitcoin Cycle Comparison On-chain and 
market data analytics platform Cryptoquant shared an insight on May […]

BTC spot volume has plunged across major exchanges, reviving comparisons with the late-stage bear market conditions that preceded the 2023 recovery. Binance activity fell from $198.6 billion to $36.4 billion, part of a broad market slowdown. Volume Collapse Revives 2023 Bitcoin Cycle Comparison On-chain and market data analytics platform Cryptoquant shared an insight on May &#8230;

BTC Volume Collapse Echoes Setup Before 2023 Bullish Recovery

Persistent energy inflation due to geopolitical tensions may delay Fed rate 
cuts, impacting global economic stability and monetary policies.
The post Fed&#8217;s Goolsbee cites persistent energy inflation amid Iran war impact 
appeared first on Crypto Briefing.

Persistent energy inflation due to geopolitical tensions may delay Fed rate cuts, impacting global economic stability and monetary policies. The post Fed&#8217;s Goolsbee cites persistent energy inflation amid Iran war impact appeared first on Crypto Briefing.

Bitcoin Pulls Back, But Futures Traders Turn Bullish: Long Squeeze Setup?

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