Bitcoin Funding Rate 30-Day Percentile Falls to 6% as BTC Trades Near $71,500

Bitcoin's funding rate 30-day percentile has dropped to 6%, the lowest level since early 2023, while BTC is down 18% in 2025 despite a recent 0.48% rebound to around $71,500, CryptoQuant analyst Leo Ruga said. Daily average funding has declined from +0.005% in January to 0.003% in February and 0.004% in March, with 25 of the past 30 sessions closing with negative funding. Ruga noted that such concentrated short positioning historically tends to unwind sharply and could increase the likelihood of a short squeeze if Bitcoin's price starts rising, though he cautioned that depressed funding can persist for weeks without signaling a precise market bottom.