Over the past seven weeks, the price of Bitcoin has been in a state of uncertainty, while the cost of long positions using leverage has reached the highest level since January 20, 2025. According to the CryptoQuant analytical platform, Bitcoin funding rates – periodic payments to peg the prices of perpetual contracts to the spot price – reached 0.0228 on August 14. This is the highest level since January 20, 2025, when they were equal to 0.02775. Funding rates have remained predominantly positive since May 26, 2026, which coincides with the predominance of long positions in the market.

The open interest in Bitcoin, which measures the total number of active derivative positions over the past seven days, has risen to the highest level in two months and reached 22.79 billion dollars. The last time funding rates rose to similar levels amid an increase in open interest, the price of the first cryptocurrency subsequently declined. Specifically, in January 2025, it stood at $102,198, but by April 8, it had fallen by more than 25 percent to $76,276.

Despite historical patterns, former hedge fund manager Axel Kibar believes that Bitcoin may be on the verge of a rally towards the resistance level of $76,000, provided it holds steady at the $67,200 mark. However, if the price falls below the support level of $62,300, the analyst predicts a deep correction down to $53,000. Such a sell‑off could be triggered by what is known as a long squeeze, when a drop in prices forces long‑position holders to close their positions, which only accelerates the overall market decline.

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The material was prepared solely for informational and educational purposes and does not constitute financial advice or a recommendation.