Coinbase analyst: Crypto market recovers slightly, traders still bet on Bitcoin price to fall

Odaily News Coinbase analyst David Duong said: "Market conditions on Tuesday showed that there is a possibility of a short squeeze amid increased buying activity on centralized exchanges. We believe that market panic will continue in the short term, but shorts are likely to be squeezed here, which could lead to a market rebound in the next few days." Despite a slight recovery in prices, the Bitcoin futures funding rate remained negative in the past 24 hours. This shows that demand for short positions remains high, indicating that traders are still betting on a drop in Bitcoin prices. (The Block)