Bitcoin funding rates are giving me the same signal they gave before the last flush. When I look at the open interest-weighted funding rate chart, I see traders getting increasingly comfortable sitting in long positions. Normally that sounds positive. In reality, it often isn't. The last time funding stayed elevated for an extended period, Bitcoin rolled over and sold off hard. I'm not saying this chart alone guarantees lower prices. It doesn't. But when I combine it with weak ETF flows, lack of spot demand, and price struggling to reclaim key levels, it adds to the same picture. The market is still paying traders to stay long. That tells me positioning remains crowded on one side. And when

Bitcoin funding rates are giving me the same signal they gave before the last flush.

When I look at the open interest-weighted funding rate chart, I see traders getting increasingly comfortable sitting in long positions.

Normally that sounds positive.

In reality, it often isn't.

The last time funding stayed elevated for an extended period, Bitcoin rolled over and sold off hard.

I'm not saying this chart alone guarantees lower prices.

It doesn't.

But when I combine it with weak ETF flows, lack of spot demand, and price struggling to reclaim key levels, it adds to the same picture.

The market is still paying traders to stay long.

That tells me positioning remains crowded on one side.

And when positioning gets crowded, things tend to move the other way.

For now, I still think the path of least resistance remains lower.

— That Martini Guy ₿ (@MartiniGuyYT) Jun 19, 2026