Crypto News

Key Takeaways: - Bitcoin is trading above $96,000 at the start of the year - Traders are taking a cautious approach - Funding rates are staying subdued Why Bitcoin is Trading Above $96,000 Bitcoin, the world's largest cryptocurrency, is starting the new year on a strong note as it continues to hold above the $96,000 mark. This is a positive sign for the market, indicating that the momentum from the end of 2021 is carrying over into 2022. The Cautious Approach of Traders Despite the positive start to the year, traders are taking a cautious approach towards Bitcoin. This is reflected in the relatively subdued trading volumes and funding rates. Many are still waiting to see if Bitcoin can maintain its current level or if it will experience a correction. Subdued Funding Rates Funding rates, which are the fees for holding long or short positions on margin, have also stayed subdued in the first few days of the year. This indicates that traders are n...