Since February, BTC has maintained a nearly month-long trend of negative funding rates dominating. This means that shorts are still holding their positions despite the cost. But the taker buy/sell strength shows that taker BUY is more dominant. Honestly, this is a bit contradictory. In other words, the volume of active longs is greater than the volume of active shorts. In principle, the funding rate should stay positive. How do we explain this? If we interpret it alongside OI (Open Interest), it might make more sense: 1⃣ Old short positions are closing, creating taker buy activity. 2⃣ New taker sell positions are dominating, leading to negative funding rates. 3⃣ Coinbase premium shows strong spot buying, further intensifying the negative funding rate.