Matrixport: BTC average funding rate is negative or for futures traders to become uncertain about the upside of the current environment

Matrixport wrote that Bitcoin's average funding rate (annualised) has turned negative. This is a real challenge for investors looking to arbitrage with cryptocurrency hedge funds, but it also shows that futures traders are reluctant to deploy large amounts of new capital. One reason may be that futures traders have become uncertain about the upside of the current environment.