"Crypto Veteran Zhu Su Shorts BERA at $11; Binance Funding Rate Plummets"

Zhu Su, Co-founder of Three Arrows Capital, has announced his attempt to short BERA at the $11 price level. This move by a prominent figure in the crypto industry signals a potential shift in market sentiment towards the digital currency.

On February 6th, the Binance platform's BERA 4-hour funding rate hit a notable low of -2%. This negative funding rate indicates a shift in market dynamics, where short positions are now obligated to pay funding fees to long positions. This reflects a bearish sentiment among traders, as typically, a positive funding rate implies that traders are more inclined towards long positions, engaging in a bullish outlook.

The decline in funding rates may suggest a cautionary stance from investors regarding potential market volatility. Understanding the implications of funding rates is crucial for crypto traders, as they can influence trading strategies and overall market behavior.

In other news, Bitget has launched the U-based BERA perpetual contract, with leverage ranging from 1 to 75x. Contract strategy trading will be opened simultaneously. Additionally, Coinbase International Futures has listed BERA, making it available for trading on their platform.