Darkfost said BTC funding rates on Binance have dropped to -0.0073%, indicating strong demand for short positions in the derivatives market. Binance's funding rate formula uses a 0.01% interest rate parameter, so a neutral funding rate is not 0%. Darkfost said this week's U.S. CPI and PPI exceeded expectations, fueling expectations of future Federal Reserve rate hikes. BTC pulled back after breaking above $87,000 several days ago.