Bitcoin Funding Rates at Sky-High as Crypto Market Saw $380M Liquidation, What's Next?

Bitcoin price briefly rallied over $57,000 triggering a broader crypto market rally. The global crypto market cap leaped 7% to $2.25 trillion, backed by a massive increase in trading volumes. This caused more than $380 million in crypto liquidation in the last 24 hours, with Bitcoin and altcoins funding rates clinching quite high.