Bitcoin Funding Rate at 7.70%: Market Update and Key Crypto Developments

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The cryptocurrency market saw broad-based declines on June 4, 2025, as investor sentiment adjusted amid shifting macro conditions and evolving blockchain ecosystem updates. This article delivers a comprehensive overview of the latest price movements, funding rates, institutional developments, and key industry announcements shaping today’s digital asset landscape.

Market Overview: Major Cryptocurrencies in Red

As of June 4, major cryptocurrencies experienced notable losses across the board. Bitcoin (BTC) traded at $37,510.04, down 2.77% over the past 24 hours. Ethereum (ETH) dropped 3.71% to $2,689.66, while Litecoin (LTC) fell 4.29% to $180.71. OKB, the native token of OKX, registered an 8.26% decline, settling at $16.12.

These movements reflect a cautious market environment influenced by macroeconomic signals and short-term profit-taking following recent volatility.

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BTC Derivatives and Sentiment Analysis

According to OKX trading data, the total open interest for BTC futures stood at $1.395 billion. The ratio of long to short holders was recorded at 1.36, indicating slightly more traders are positioned on the long side. Notably, active buy volume exceeded sell volume by $63.88 million, suggesting underlying demand persists despite price corrections.

Among professional traders—often seen as market "elites"—49% held long positions versus 46% in shorts. The average position size for elite longs was 20.48%, compared to 12.31% for shorts, reinforcing a moderately bullish bias within experienced circles.

DeFi tokens also declined broadly, though some outliers showed strength. On the OKX platform, RIO led gains with a 12.60% increase, followed by JFI (+7.24%) and MOF (+4.70%).

Bitcoin Funding Rate Signals Optimism

One of the most telling indicators in today’s market is the Bitcoin annualized funding rate, which currently stands at 7.70%, up slightly from the previous day. According to data provider Companion Data, this places market sentiment firmly in the “optimistic” range.

Here’s how to interpret the funding rate scale:

A funding rate above 5% typically indicates strong demand for leveraged long positions in perpetual futures markets, often driven by expectations of further upside. While not yet in bullish territory (10%), the current level suggests growing confidence among traders.

This metric is especially valuable for gauging short-term market psychology and potential reversal points when rates become excessively high or negative.

Industry Updates: Ecosystem Growth and Adoption

Swarm Network Announces Bee Mainnet Soft Launch

The Swarm Foundation has announced that the Bee mainnet soft launch will take place on June 13, 2025. Bee is a core client of the Ethereum-based decentralized storage network Swarm, designed to provide scalable, private, and censorship-resistant data storage for dApps.

Several projects have already integrated Swarm into their infrastructure, including Fairdrive (decentralized file storage), Waggle (IoT data marketplace), Swarm.city (urban sharing economy), and Ready Fighter One (blockchain gaming). With BZZ token deployment imminent, the full mainnet rollout is expected to accelerate adoption across Web3 applications.

This milestone underscores the growing maturity of decentralized infrastructure beyond just finance—extending into data sovereignty and digital ownership.

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Coinbase Adds Dogecoin Support Across Platforms

In a significant move for meme coin legitimacy, Coinbase has officially added support for Dogecoin (DOGE) across its primary platforms. Users can now buy, sell, convert, send, receive, and store DOGE on the Coinbase website and mobile apps (iOS and Android) wherever services are available.

This follows the earlier listing on Coinbase Pro, signaling broader institutional acceptance of community-driven cryptocurrencies. Given Dogecoin’s large user base and cultural significance, this integration enhances accessibility for retail investors and could boost transaction volumes.

ZT DAO Launches Community Governance Initiative

ZT Foundation has launched ZT DAO, a decentralized autonomous organization aimed at fostering community-led governance within its ecosystem. The open registration period runs from June 1 to June 30, inviting blockchain communities and enthusiasts to participate.

Notably, Wildfire Dao has already joined by locking 10,000 ZTB tokens—a demonstration of commitment required for candidacy. The foundation will distribute 10 million ZTB tokens as rewards to active contributors, incentivizing long-term engagement and decentralization.

This initiative reflects a broader trend toward community empowerment in crypto projects, aligning incentives between developers, users, and stakeholders.

Tron Founder Sun Yuchen to Acquire Elon Musk’s Bitcoin Holdings

In a headline-grabbing announcement, Sun Yuchen, founder of the Tron blockchain platform, declared his intention to purchase all Bitcoin sold by Tesla CEO Elon Musk. While no formal transaction details were disclosed, the statement reignited discussions around celebrity influence in crypto markets.

Historically, Musk’s tweets have moved markets—particularly for Bitcoin and Dogecoin—and this development highlights how public figures continue to shape investor sentiment. Whether or not the acquisition proceeds, it serves as a reminder of the intersection between innovation leaders and digital asset adoption.

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Frequently Asked Questions

What does a Bitcoin funding rate of 7.70% mean?

A 7.70% annualized funding rate indicates that traders holding long positions in BTC perpetual futures are paying a premium to short holders. This reflects optimistic sentiment and sustained demand in leveraged markets.

Why did OKB drop over 8% today?

While specific reasons aren't public, OKB’s decline likely reflects broader market correction trends rather than project-specific issues. Many exchange tokens moved in tandem with BTC and ETH during this period.

Is Swarm Network related to Ethereum?

Yes, Swarm is a decentralized storage solution built as part of the Ethereum ecosystem. It complements Ethereum’s smart contract capabilities by providing persistent and scalable data storage for dApps.

How can I participate in ZT DAO?

You can join ZT DAO by registering during the open period (June 1–30) and locking ZTB tokens as a stake in governance participation. More details are available through official ZT Foundation channels.

Does Coinbase support Dogecoin withdrawals?

Yes—Coinbase supports full functionality for Dogecoin, including deposits, withdrawals, trading, and storage across supported regions.

What impact could Sun Yuchen’s offer have on Bitcoin?

While symbolic in nature, such announcements can boost market morale and draw attention to Bitcoin’s role as a long-term store of value amid high-profile selling narratives.

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Final Thoughts

Despite short-term price weakness, underlying metrics such as funding rates and institutional integrations suggest continued resilience in the crypto market. From DeFi innovation and decentralized infrastructure rollouts to expanding exchange support and community governance models, the ecosystem is maturing rapidly.

For investors and participants alike, staying informed about both price action and foundational developments remains crucial. As always, monitoring key indicators like funding rates can offer early signals of shifting sentiment—helping you make timely, data-driven decisions.

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