ビットコインの短期的な押し目を形成する可能性があるが、市場はまだ上向いていない

Bitcoin sets up potential short squeeze as 'funding rate' plunges to three month lowNegative funding rates, rising open interest and liquidations point to crowded positioning and heightened derivatives activity.Updated Feb 28, 2026, 2:09 p.m. Published Feb 28, 2026, 11:00 a.m. Bitcoin is looking to reclaim $64,000 on a possible short squeeze after earlier falling to as low as $63,000 following U.S. and Israeli strikes on Iran.At the same time, perpetual futures funding rates dropped to -6%, according to CoinGlass, marking the second lowest level in the past three months. The last time funding was this negative was on Feb. 6, when bitcoin bottomed near $60,000.BTC Open Interest (Coinglass)Perpetual funding rates represent the periodic payments exchanged between traders in perpetual futures markets. When rates are positive, traders holding long positions pay those holding shorts. When rates turn negative, shorts pay longs.Deeply negative funding typically signals aggressive short positioning and bearish sentiment, as traders are willing to pay a premium to maintain downside bets.Meanwhile, coin-margined open interest rose from 668,000 BTC to 687,000 BTC over the past 24 hours. Measuring open interest in BTC terms removes the distortion caused by price swings. Rising open interest alongside negative funding suggests growing participation, with an increasing share of traders positioned for further downside.In the past 24 hours, more than $500 million in crypto positions have been liquidated, according to CoinGlass data. The bulk of those liquidations were long positions, totaling over $420 million, highlighting the scale of forced selling as prices moved lower.More For YouCrypto community fear of Iran choking oil supply and crashing markets may be overblownA full closure of the strait is unlikely or impractical, some experts argue.What to know: Many crypto social media users on X worry that Iran could close the Strait of Hormuz, a key route for about 20 percent of global oil shipments, potentially sending oil prices toward $120 to $150 and triggering an inflation shock.Several experts argue that a full closure of the Strait is unlikely or impractical and that any oil price spike would likely be limited and temporary. An all-out war could still rattle markets and push bitcoin lower.Read full story