Derivatives Data Shows Softening Crypto Enthusiasm

Derivatives Data Shows Softening Crypto Enthusiasm
Several months ago, investors facing FOMO – the fear of missing out – worried that the ship had sailed when it came to crypto. Now, however, while that ship may have left the harbor, the wind is out of its sails as it floats directionless for the time being. Perhaps it’s because of upcoming Fed tightening; enthusiasm seems to have dampened. That sentiment is backed up by some market data showing market activity has fallen and that could take prices with it.1. Funding rates have gone negative.Rates from several major exchanges compiled by analytics firm CryptoQuant show that the cost…