Price fell 3% and longs are still paying to hold it up.
BTC sits at $73,593, down 3.0% over the last four days. Normally a slide like that shakes leveraged longs out of the market. This time it did not. The latest perpetual funding print is +0.00664%, and across the last 21 prints the lowest reading was still +0.0013%. Funding never turned negative once. Longs paid shorts the entire way down.
Why it matters: a drop without a funding reset is not a washout, it is just a cheaper entry for the people who were already long. The forced selling that usually ends a slide has not happened yet.
Takeaway: stop reading the candle alone. If funding stays positive while price slides, most of the crowd is still leaning the same way, and the pain trade is lower.
$BTC
Would you wait for funding to actually flip negative before calling a bottom, or does price action alone convince you?
#Bitcoin #FundingRate #CryptoMarkets #Derivatives
BTC sits at $73,593, down 3.0% over the last four days. Normally a slide like that shakes leveraged longs out of the market. This time it did not. The latest perpetual funding print is +0.00664%, and across the last 21 prints the lowest reading was still +0.0013%. Funding never turned negative once. Longs paid shorts the entire way down.
Why it matters: a drop without a funding reset is not a washout, it is just a cheaper entry for the people who were already long. The forced selling that usually ends a slide has not happened yet.
Takeaway: stop reading the candle alone. If funding stays positive while price slides, most of the crowd is still leaning the same way, and the pain trade is lower.
$BTC
Would you wait for funding to actually flip negative before calling a bottom, or does price action alone convince you?
#Bitcoin #FundingRate #CryptoMarkets #Derivatives
