According to BlockBeats, on September 4, Vetle Lunde, an analyst at K33 Research, said that the funding rate of Bitcoin perpetual futures has been below neutral for more than 30 consecutive days, and the average four-week funding rate is currently negative for the first time since December 25, 2022. When the funding rate of Bitcoin perpetual futures is negative, it means that traders are mostly betting on a fall in asset prices. However, hedging or outright short positions are becoming increasingly crowded, which is also a clear indicator that sellers are approaching exhaustion.
Analysts point out that if the market follows seasonal trends, September will be a good opportunity to buy on the dip, followed by a possible recovery in the fourth quarter of the year. Historically, buying on the dip in September does yield good gains at the end of the year.
