BTC Funding rates haven’t been this deeply negative in a long while. Historically, extremes like this tend to occur when the market is heavily positioned to one side. In this case, it suggests a strong short bias, with traders increasingly positioning for a reversal despite recent strength. The problem is that crowded positioning often creates the conditions for moves in the opposite direction. If price continues to hold or push higher from here, this could turn into fuel for a squeeze.(Max Trades)