Bitcoin funding rates hit their highest since January 2026.

The price of Bitcoin (BTC) has been in a state of uncertainty for the past seven weeks, with the cost of long leveraged positions reaching their highest level since January 20, 2025.

On According to CryptoQuant, analyzed Happy Coin NewsBitcoin funding rates, the periodic payments made by traders holding long and short positions to peg the price of perpetual contracts to the spot price, reached 0,0228 on August 14, the highest level since January 20, 2025, when they were 0,02775.

CryptoQuant Data

Bitcoin funding rates have remained predominantly positive since May 26, 2026. Note that long periods of positive funding rates coincide with a predominance of long positions, and vice versa.

BTC's open interest - the simple moving average (SMA) 7, which measures the total number of active derivatives positions over the past seven days, rose to its highest level in two months, reaching $22,79 billion, CryptoQuant data shows.

CryptoQuant Data

The last time Bitcoin funding rates rose to such levels amid rising open interest, the price of BTC fell shortly afterward. Specifically, in January 2025, it was $102,198, but on April 8, 2025, it fell 25,37% to $76,276.

However, BTC may now be on the cusp of a rally towards resistance at $76,000, supported by a stable hold at $67,200, according to analysis by former hedge fund manager Axel Kibar.

Data by Axel Kibar, CMT

However, if BTC's price falls below the $62,300 support level, the analyst predicts a correction to $53,000. Such a sell-off could be triggered by a "long squeeze," where falling prices force long position holders to sell, accelerating the decline.