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Bitcoin Traders Favor Long Exposure Despite Low Volatility, Positive Funding Rates

Bitcoin has been trading sideways with low volatility, but traders are favoring long positions. The cryptocurrency currently trades at $29,700 with a 0.7% loss in the last 24 hours and a 2% loss in the previous week. Data from Block Scholes via Deribit shows that Bitcoin and Ethereum traders have been seeking long exposure to these cryptocurrencies, coinciding with a decline in delivered volatility. However, it is unclear why traders are willing to pay a consistently high rate for long exposure despite low expectations of volatility.

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