On February 28, Bitcoin funding rates hit -0.0165 amid reports of strikes in Iran
On February 28, crypto markets sold off after reports of U.S. and Israeli strikes in Iran, pushing Bitcoin funding rates to -0.0165 and coin-margined open interest to 676,000 BTC. Bitcoin fell up to 6 percent within minutes, erasing about 70 billion dollars from crypto market value and nearing 63,000 dollars.