Bitcoin’s Funding Rate has continued to decline.
BTC has seen waning fortunes as well, as it dropped off the $42,000 price range.
Recently, Bitcoin [BTC] fell below the $42,000 price range, and there is a possibility of further descent if the current downward trend persists. The price decrease has led to a decline in trader sentiment and an increase in long liquidations.
Bitcoin price falls from two key positions
Over the last two days, Bitcoin’s price has fallen below two significant thresholds. On the 17th of December, the daily timeframe chart revealed a drop below the $42,000 mark.
The chart also indicated a slight dip below the $41,000 range at the time of this writing. This downward trend has characterized the price movement since it surpassed $40,000.
Source: TradingView
Also, as of this writing, the Moving Average Convergence Divergence (MACD) trend has turned negative, signaling a bearish trend.
This observation aligned with the confirmation provided by the Relativ
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