Bitcoin’s perpetual futures funding rate has turned negative, meaning short sellers are now paying long holders to maintain their positions. Meanwhile, spot buyers pushed BTC up roughly 1.2% on the day, creating a divergence that experienced traders carefully monitor. Bitcoin experienced its longest sustained negative funding streak in a decade in 2026, spanning 67 consecutive days through early May, with prices ranging between $63,000 and $77,000 from April to August. According to VanEck data, 30-day BTC returns averaged 11.5% during negative funding periods, compared to 4.5% overall.
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