Svmuu News Bitcoin After the U.S. and Israel launched attacks on Iran, the price briefly dropped to $63,000, and the funding rate for perpetual contracts fell to -6%, the second-lowest level in nearly three months. The last time the funding rate reached this level was on February 6, when Bitcoin bottomed out near $60,000.CoinGlass data shows that over the past 24 hours, BTC-denominated open interest rose from 668,000 BTC to 687,000 BTC, with over $500 million in crypto positions liquidated, including more than $420 million in long positions.Deeply negative funding rates typically indicate a concentration of short positions, with traders willing to pay a premium to maintain bearish bets. The rise in open interest denominated in BTC alongside negative funding rates suggests increased market participation and more traders betting on a downtrend. Currently, Bitcoin is attempting to reclaim the $64,000 level.