Institutions Want to Buy Bitcoin Cheaper

Bitcoin funding rates on Binance hit YTD lows, reflecting an increase in short positions as institutional interest wanes, turning negative. Although this may seem like a bearish signal that institutional interest in Bitcoin has decreased, institutional investors are more willing to buy when Bitcoin drops to $55K, which shows that institutional firms want to buy Bitcoin at a cheaper price.

This situation is very normal in times when individual and retail investors are undecided because institutions always want to buy cheaper. I think Bitcoin is very cheap even now and I doubt that I will be able to buy Bitcoin this cheap in the future.

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Bitcoin is currently trading at $59,152 and I believe that selling this cheap will not last long. We will wait and see.