Odaily Planet Daily News: CryptoQuant indicator data shows that Bitcoin funding rates have become negative seven times in a year. Historically, the previous six negative funding rates all indicate a strong bullish outlook for BTC. This indicator reflects the cost of holding leveraged positions in perpetual futures contracts, indicating that traders have become overly bearish and marking a local bottom, which is usually a precursor to a significant rebound. If history repeats itself, the market may soon turn to a bullish trend. Currently, traders are closely monitoring liquidity levels below $98000 and using $100000 as a strong support to restart price discovery as the first step. If this level is breached, it may trigger increased buying pressure. To fully restore the bullish trend and change market sentiment, BTC needs to regain the $103600 mark. (bitcoinist)