KindlyMD, a Nasdaq-listed company, raised $51.5 million in just 72 hours through a PIPE deal to purchase Bitcoin. This move signals a shift towards a Bitcoin-focused strategy, ahead of its merger with Nakamoto Holdings.
Bitcoin price rallied 80% the last time BTC funding rates flipped red. A large cluster of potential short liquidations near $111,320 could trigger a squeeze to accelerate Bitcoin's next leg higher into price discovery.
Bitcoin funding rates are declining, indicating increased caution and potential neutral or short-side positioning. Despite high futures activity, appetite for long exposure is fading, raising the possibility of a short squeeze, where short traders are forced to close their positions.
