Bitcoin Funding Rates Hit 19-Month High Amid Rising OI

Bitcoin's funding rates have reached their highest point in nearly two years. According to CryptoQuant, analyzed by Finbold on August 18, the funding rate hit a peak of 0.0228 on August 14.

This is the highest level since January 20, 2025, when it spiked to 0.02775, revisiting the 575-day high.

The prolonged positive funding rates indicate that long positions are dominant in the market, which could be a sign of a potential price increase for Bitcoin.

However, if BTC price falls below its support level near $62,300, Aksel Kibar, a former hedge fund manager, predicts it may drop to $53,000 due to a long squeeze.