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The funding rate for Bitcoin perpetual futures on Binance dropped to about -0.00215, the lowest level since January. Negative funding indicates growing demand for shorts amid BTC's decline to $83,000 and below.
The dollar is declining against major currencies for the second session in a row. EUR/USD rose to 1.1230, while USD/JPY fell below 158.00 amid a pullback in US Treasury yields and a decline in the geopolitical premium.
On the evening of October 7, Ethereum dropped to $2,570, definitively breaking through the $2,700 zone. Over the day, $233.36 million in positions were liquidated on ETH, with about 95% of that amount coming from longs.
On the night of October 5, Bitcoin rose to $86,972, but again failed to consolidate above and returned below $86,000. This is already the second failed attempt to break through the $87,000 zone in a week.
EUR/USD lost about 0.85% on Monday and fell just above 1.1150, hitting its lowest since May 2025. Pressure on the euro intensified due to rising French government bond yields and uncertainty surrounding the country's budget.
XAU/USD dropped below $4,200 and hit a nearly two-month low. Gold is under pressure from expectations of further Fed rate hikes, high US Treasury yields and a stronger dollar.
