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Bitcoin Hits $81,000 as Perpetual Funding Rate Stays Negative for 66 Days, Institutional Hedging Cited

bitcoin news Derivatives Data Market Analysis Capital Flow

2026-05-05 04:09:32

BTC-0.43%

According to ChainCatcher, Bitcoin's 30-day average funding rate on perpetual contracts has remained negative for 66 consecutive days—the longest stretch in a decade—as BTC climbed to around $81,000. In this environment, short positions pay longs an annualized cost of approximately 12%. Despite the negative funding rate, Bitcoin rose about 12% in April with open interest growing 12%, indicating no panic-driven shorting. Analysts attribute the phenomenon primarily to institutional hedging activities, including hedge fund futures shorting during redemption cycles, basis trading strategies, and miners hedging Bitcoin holdings while transitioning to AI computing services. Historical data shows buying Bitcoin during similar negative funding rate periods yields positive returns within 90 days with a probability of 83% to 96%.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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Comment

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TheAccountHasBeenBanned

· 05-05 04:12

For the first time in 17 years, a companion mining token with the same computing power, same public chain, same blocks, and same addresses as Bitcoin has been included in Coinbase. How much is the security value of the Bitcoin network? What is the significance of this statement?

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