Bitcoin Funding Rates Stuck at -4.5% Despite Price Rise to $77,669

Bitcoin's 30-day funding rates on Binance remain at -4.5% despite spot price climbing to near $77,669, highlighting persistent bearish positioning among derivatives traders even after recent gains. The negativity started on April 23 when rates hit -4.5%—mirroring late-2022 lows of -7% before a market bottom—amid Tether freezing $344 million in USDT and failed attempts to hold above $80,000. This divergence between institutional spot buying and heavy shorts raises risks of a sharp reversal or short squeeze, signaling elevated volatility ahead.