Darkcast: Binance BTC funding rates turn negative, leading to increased demand for short positions in the derivatives market

Darkfost stated on X platform that the BTC funding rate on Binance platform has turned negative, dropping to -0.0073%. The Binance fund rate formula uses an interest rate parameter of 0.01%, and the neutral fund rate is not 0%. The last time a similar situation occurred was in June of this year, when BTC prices were around $62000. This week, both the US CPI and PPI were higher than expected, and market expectations for future interest rate hikes by the Federal Reserve have increased. BTC experienced a pullback after breaking through $87000 a few days ago, and now it is necessary to pay attention to the two price levels of $80000 and $74000.