Bitcoin Rebounds After Retreat, But Caution Remains Over High Futures Funding Rates

Bitcoin hit a record high above $73,500 about three weeks ago, then quickly retreated to around $61,000
Since then, it has retraced to the current $67,600, giving some bulls hope that new highs are coming soon
The futures funding rate, representing trader sentiment, is around record highs right now
The last time funding rates were this high was April 2021, right before Bitcoin collapsed from $60,000 to below $30,000
CFTC data shows hedge funds & commodity trading advisors currently have record short positions in Bitcoin futures