coin-img-ESPESP+102.50%coin-img-ETHETH-1.50%coin-img-BTCBTC-1.28%coin-img-SOLSOL-1.93%coin-img-XRPXRP-1.61%coin-img-USDCUSDC+0.00%coin-img-XAUTXAUT-1.77%coin-img-POKEEPOKEE-9.51%coin-img-ESPESP+102.50%coin-img-ETHETH-1.50%coin-img-BTCBTC-1.28%coin-img-SOLSOL-1.93%coin-img-XRPXRP-1.61%coin-img-USDCUSDC+0.00%coin-img-XAUTXAUT-1.77%coin-img-POKEEPOKEE-9.51%coin-img-ESPESP+102.50%coin-img-ETHETH-1.50%coin-img-BTCBTC-1.28%coin-img-SOLSOL-1.93%coin-img-XRPXRP-1.61%coin-img-USDCUSDC+0.00%coin-img-XAUTXAUT-1.77%coin-img-POKEEPOKEE-9.51%coin-img-ESPESP+102.50%coin-img-ETHETH-1.50%coin-img-BTCBTC-1.28%coin-img-SOLSOL-1.93%coin-img-XRPXRP-1.61%coin-img-USDCUSDC+0.00%coin-img-XAUTXAUT-1.77%coin-img-POKEEPOKEE-9.51%
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Florence Muchai

Bitcoin shorts on centralized exchanges reach August 2024 extremes as funding turns deeply negative

On February 13 2026, data from derivatives markets showed Bitcoin short positions on centralized exchanges at their most aggressive levels since August 2024, with funding rates dropping sharply into negative territory as BTC trades around $65,000–$66,500. This positioning follows a prior cycle where a $55,000 multi‑month bottom in August 2024 preceded an 83% price advance to a $106,000 peak four months later, and current metrics such as the near‑1.1 MVRV ratio suggest Bitcoin is approaching historically undervalued levels without guaranteeing an immediate rally.
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