Bitcoin Funding Rate Hits 0.12% on BitMEX: BTC Historically Fell 7% Afterwards

Over the past week, Bitcoin (BTC) has found itself in a steep rise higher, rallying from $9,100 to as high as $9,850 — a gain of 8.2% — in the span of four days.
Although this sort of price action isn’t abnormal for the leading cryptocurrency, it has been underscored by a growing sense of euphoria in the markets. Indeed, social volumes for Bitcoin are through the roof, influencers are out touting bullish sentiment, and there is an overall air of the fear of missing out (FOMO) w