Today's rates are different that yesterday's
If you follow them, you could notice that they increased for over 3 times during the last 24 hours if we talk about short term rates. Yesterday rates for 2-day loans were around 0.02% daily (I managed to borrow at lower than 0.018%), while today they have already surged to over 0.07% and above, and the offers are quickly filled. As to me, that pretty much means exactly what I say, namely, that people are expecting Bitcoin to tank massively. Indeed, it doesn't mean that it will, but personally, I interpret such change in this way
That is what makes a market, two traders looking at the same thing and interpreting it the to mean the opposite. As I said earlier the BTC I have lent out is coin I intend to keep come what may, so if it turns out I'm wrong it doesn't really change the outcome here. I have separate funds that I trade with but I'm just not feeling anything that makes me want to take a short right now. We'll see how it develops over the next 9 or 10 days.