Crypto relief rally fails to shake persistent bearish derivatives signal (opens original article in a new tab)

Crypto markets experienced significant liquidations and bearish derivatives signals despite short-term price rebounds, with Bitcoin's futures showing negative funding rates and Solana's sharp decline.

• Nearly $1 billion in crypto futures positions were liquidated in 24 hours as Bitcoin dipped below $60,000
• Bitcoin's futures open interest increased to 763K BTC, but funding rates turned negative indicating bearish sentiment
• Ether rose 1.5% on Thursday, while Solana fell 75% from its September peak