"Long Position Interest in Bitcoin is Decreasing, the Market is Alert"

In the Bitcoin (BTC) futures market, investors are exhibiting notable caution, shying away from taking long positions. During this period of weak investor interest, the Bitcoin market is facing declining derivative demand as it enters November.

According to renowned analyst Julio Moreno's shared data, funding rates have gone back into negative territory. This situation is notable as it fails to reach the strong levels seen in October, even when funding rates have risen to positive levels. In other words, leveraged investors are currently unwilling to take upward risks. Funding rates are one of the best indicators of the balance between long and short positions in the futures market. A negative funding sentiment indicates an increase in short positions and a weakening of long demand.

Moreno's charts clearly illustrate that the high funding waves from October have been replaced by a rather subdued outlook in November. During this process, the Bitcoin price has declined to $101.5k. This situation indicates that investors have become more cautious in the face of recent price volatility and sharp corrections. This decrease in risk appetite in the futures market may also exert pressure on spot demand.

Low or negative funding rates indicate a weakening in market expectations for upward movements. The strong long appetite supported by positive funding in October has given way to a more reluctant attitude following sharp declines in November. This situation serves as a significant signal that downward pressure on Bitcoin prices may persist in the short term. It will be crucial to see whether funding rates will revert to a positive trend in the coming days, as this will be essential for understanding the overall risk sentiment in the market. Investors need to closely monitor these developments.