K33 Research Report: The funding rate indicator predicts a market rebound in the coming weeks

In a market report released on Tuesday, K33Research stated that a reliable indicator suggests a significant rebound in the coming weeks and months. According to the report, the 30-day average funding rate of perpetual contracts has dropped to negative levels, which has only happened six times since 2018. K33 analysts Vetle Lunde and David Zimmerman wrote: "In the past, when the monthly funding rate fell into negative territory, it usually meant that the market had bottomed out." The report mentioned that after this indicator turned negative previously, the average return over the next 90 days was 79%, while median return for 90 days was at 55%.