Bitcoin's derivatives market has flipped bearish following the $1.5 billion liquidation wave on 13 November. Funding rates across #Binance , #OKX and #Bybit have turned negative, signalling a shift towards short positioning after leveraged longs were wiped out. However, crowded shorts could set the stage for a short squeeze if spot demand returns. The question is whether this is the beginning of a deeper correction or a leverage reset ahead of a recovery.
$BTC