PANews reports on July 29 that CryptoQuant analyst Darkfost wrote that Bitcoin's funding rates are showing the same typical signals seen before the big rallies in September 2024 and December 2022, suggesting that bearish sentiment might have hit a peak recently. From March to May, Bitcoin pulled back over 50%, with short positions piling up and pushing funding rates into negative territory, before BTC bounced back to $82,000 in May. This signal has popped up again, potentially leaving room for bullish recovery in the coming months. Turned into a monthly sentiment aggregation tool, this indicator is even more effective than the Fear & Greed index.
