Bitcoin (BTC) bears have now overtaken the BTC bulls based on futures market funding rates, according to analyst and verified CryptoQuant author Axel Adler.

However, this doesn't necessarily mean more downside for the Bitcoin price, according to Kristian Haralampiev, structured products lead at Nexo.

Bitcoin must hold above the $50,000 mark until the Sept. 18 Federal Reserve meeting to avoid more downside, as the bears have taken control of the futures markets.

The analyst wrote in a Sept. 10 X post that the BTC futures perpetual funding rate has turned negative, indicating that the bears have overtaken the bulls.

This shift in the futures markets could lead to further downside for Bitcoin if it fails to maintain the $50,000 level leading up to the upcoming Fed meeting.

Source: https://cointelegraph.com/news/bitcoin-bears-dominate-futures-market-price-dip

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