Hedera’s price recovery (HBAR) faces a significant hurdle, as revealed by recent data from the derivatives market. Investor interest in HBAR futures has dropped dramatically, suggesting a lack of confidence in the asset’s short-term growth potential.
Key data provided by the analytics platform Coinglass shows that HBAR’s open interest (OI) has plummeted. The total value of outstanding futures contracts fell from a high of $89 million to just $48 million. This metric is crucial, as declining open interest indicates that capital is exiting the asset’s market, which reduces liquidity and buying pressure.
Disinterest is not the only worrying indicator. HBAR’s funding rate, which reflects the cost of holding long positions, has turned negative. In practice, this means that traders betting on a price drop (short sellers) are paying those who are betting on a rise. This phenomenon is a clear sign of dominant bearish sentiment in the market, as investors expect the price to continue falling.
This pessimism is part of a broader context of the asset’s underperformance. HBAR has experienced a considerable drop from its high of $0.14, currently trading around $0.07. The lack of new capital inflow, as evidenced by the fall in open interest, makes any attempt to reverse this trend incredibly difficult and to overcome key resistance levels. Without new buying momentum, the price could stagnate or even continue its decline.
An Uphill Battle for the Asset
The implications for HBAR holders are direct. A bearish futures market often puts pressure on the spot price, creating a negative feedback loop. The absence of conviction from derivatives traders suggests they do not anticipate an imminent positive catalyst. This situation could affect the project’s overall economy if the negative perception persists over time.
The path to Hedera’s price recovery looks increasingly complicated. Futures market indicators suggest that investors are not only cautious but are actively anticipating lower prices. For the outlook to change, a fundamental shift in market sentiment would be necessary, driven by significant positive news or a general resurgence of risk appetite in the cryptocurrency sector. In the meantime, the bearish pressure will likely persist.
