Bitcoin funding rates and lack of bid liquidity present a potential BTC price retracement opportunity.
Bitcoin may see a deeper retracement at the hands of positive funding rates and a lack of bid liquidity below BTC price, the latest market takes suggest.on the back of fresh excitement over the potential approval of a Bitcoin spot price exchange-traded fund in the United States.
The speed at which the market broke through resistance in place throughout the past year-and-a-half was surprising, an X post“Those levels were obliterated and and when an $87M buy wall appeared at $30.6k that set the foundation for a R/S flip with no hesitation from the market,” it explained. The post added that with some bid liquidity now pulled from below, there was an “opportunity for a potential retrace.”BTC/USD order book data for Binance. Source: Material Indicators/X
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