$BTC fell about 6% to a 7-week low, with $ETH down about 8% over 24h. Per Cointelegraph, US stocks gave back their election gains. $BTC trades near 75,811 USDT, $ETH near 2,230 USDT, and the Fear & Greed index reads 50.
Derivatives: $BTC funding is +0.0100% per 8h, and 70% of accounts are long. $ETH funding is slightly negative at -0.0003% per 8h.
Macro calendar today: US jobs data at 08:30 ET (payrolls forecast 65K, previous 29K; unemployment forecast 4.2%; hourly earnings forecast 0.3%). BOJ Governor Ueda speaks at 11:00 ET.
Security: Cointelegraph reports US regulators are checking banks after a hack at a major exchange, and another exchange has reported a new hack.
Practical cost tip: at +0.0100% per 8h, holding 10,000 USDT of $BTC for 24h costs about 3.00 USDT in funding. That is on top of taker fees, which run 0.04% to 0.06% per side at major venues. After a sharp move, recheck your liquidation price. Use withdrawal whitelists and keep only the funds you trade with on an exchange.
— BasisBack Research · not financial advice
Derivatives: $BTC funding is +0.0100% per 8h, and 70% of accounts are long. $ETH funding is slightly negative at -0.0003% per 8h.
Macro calendar today: US jobs data at 08:30 ET (payrolls forecast 65K, previous 29K; unemployment forecast 4.2%; hourly earnings forecast 0.3%). BOJ Governor Ueda speaks at 11:00 ET.
Security: Cointelegraph reports US regulators are checking banks after a hack at a major exchange, and another exchange has reported a new hack.
Practical cost tip: at +0.0100% per 8h, holding 10,000 USDT of $BTC for 24h costs about 3.00 USDT in funding. That is on top of taker fees, which run 0.04% to 0.06% per side at major venues. After a sharp move, recheck your liquidation price. Use withdrawal whitelists and keep only the funds you trade with on an exchange.
— BasisBack Research · not financial advice
