Bitcoin funding rates jump over 140% on February 16 as price slips to $68,520

On Monday, February 16, Bitcoin derivatives funding rates climbed by more than 140%, indicating that leveraged traders significantly boosted their bullish positions. Despite this, overall open interest edged down 0.08%, suggesting existing traders are repositioning rather than new capital entering the market. Bitcoin's spot price was still about 1% lower around $68,520, leaving the market exposed to potential long squeezes if the anticipated rebound fails to appear.