Matrixport: BTC average funding rate is negative, which may make futures traders uncertain about the upside potential in the current environment

Matrixport has stated that the average funding rate (annualized) for Bitcoin has become negative. This is a real challenge for investors seeking to arbitrage with cryptocurrencies, but it also indicates that futures traders are not willing to deploy a large amount of new capital. One reason may be that futures traders are becoming uncertain about the current upward space.