According to glassnode, despite rising open interest (OI), the average funding rate for Bitcoin futures has decreased to -0.023%, indicating a strong tilt towards short-side positioning among BTC traders. This shift suggests that many market participants are betting against the recent price rally. If bullish momentum continues, it could trigger a short squeeze scenario, forcing short sellers to cover their positions and potentially driving the price higher (source: glassnode, April 25, 2025). Traders should monitor funding rates and OI for potential volatility and rapid price movements.

According to Ki Young Ju, the crypto futures market has seen a significant number of traders experiencing losses, as indicated by the emotive symbols posted on Twitter. This suggests a high level of market volatility, which can lead to increased liquidation events. Traders should exercise caution and consider implementing risk management strategies to mitigate potential losses.