TechFlow news, on September 4, according to The Block, K33 Research analyst Vetle Lunde released a report indicating that the Bitcoin perpetual futures market is showing clear signs of pessimism, with funding rates remaining below neutral levels for over 30 consecutive days—the longest such period since May 2024. This situation resembles the period in November 2022 when Bitcoin prices dropped sharply.
Lunde noted that the four-week average funding rate has turned negative for the first time since December 25, 2022, reflecting strong bearish sentiment. However, he also pointed out that such concentrated hedging or direct short positions may signal that selling pressure is nearing exhaustion. From a seasonal trend perspective, Lunde believes September could offer a "buy-the-dip" opportunity in preparation for a potential rebound in the fourth quarter. He emphasized, "Historically, buying the dip in September to accumulate positions ahead of the fourth quarter has consistently been the best spot strategy."
