$SNXX 24 hours up 5.214%, while the contemporaneous funding rate is 0.00152451 and positive. Global news flow on the surface is calm, yet on-chain US stock futures show a sentiment-driven premium. This is a typical long-driven market: the rally lacks a macro news catalyst, and the funding rate has begun accumulating the cost of holding positions. The strongest counter-evidence is the 2.15 million outstanding contracts; if the price stalls, the positive funding rate will accelerate long liquidation. I think that if it breaks below 14.3 next, the current structure will fail—positive funding will flip into sell pressure. In terms of strategy: if it pulls back to around 14.2, go long with a light position; if it breaks below 14.0, exit.

Trading tag: #TradFi #链上美股 #SNXX

Where do you think this view is most likely to be wrong?