ZETA surges 41.443% to 0.05628 within 24 hours, but the funding rate is deeply negative at -0.00080642—shorts are paying longs.
Key view: This is a classic pre-squeeze setup. The explosive rally is driven by short liquidation or stop-losses pushing prices up, not by spot buying. Going forward, the trend can only be confirmed if the funding rate turns positive.
Evidence chain: The price jump of 41.443% and the severely divergent funding rate of -0.00080642, together with a high open interest of 135,467,071 contracts, indicate that a large number of shorts are stubbornly holding against the move.
Key view: This is a classic pre-squeeze setup. The explosive rally is driven by short liquidation or stop-losses pushing prices up, not by spot buying. Going forward, the trend can only be confirmed if the funding rate turns positive.
Evidence chain: The price jump of 41.443% and the severely divergent funding rate of -0.00080642, together with a high open interest of 135,467,071 contracts, indicate that a large number of shorts are stubbornly holding against the move.