๐ The message aims to highlight a classic difference between what retail traders do and what some major market players are up to.
The interpretation would be:
* ๐ ETH dropped to around 1816, triggering liquidations and exits from many leveraged traders.
* ๐ Meanwhile, some data showed that big traders were holding long positions.
* ๐ฐ The funding remained positive, indicating more demand for long positions than short ones in the perpetual markets.
* ๐ Funds were continuing to flow into the market instead of exiting en masse.
The bullish thesis is:
The drop was a liquidity hunt and a cleaning of weak positions, not necessarily a definitive trend change.
โ ๏ธ However, one must be cautious of jumping to conclusions. Just because:
* the funding is positive,
* the whales are long,
* or funds are entering,
it doesn't guarantee a subsequent rise. In fact, excessively positive funding can sometimes precede new liquidations if the market is too tilted towards the bullish side.
The interpretation would be:
* ๐ ETH dropped to around 1816, triggering liquidations and exits from many leveraged traders.
* ๐ Meanwhile, some data showed that big traders were holding long positions.
* ๐ฐ The funding remained positive, indicating more demand for long positions than short ones in the perpetual markets.
* ๐ Funds were continuing to flow into the market instead of exiting en masse.
The bullish thesis is:
The drop was a liquidity hunt and a cleaning of weak positions, not necessarily a definitive trend change.
โ ๏ธ However, one must be cautious of jumping to conclusions. Just because:
* the funding is positive,
* the whales are long,
* or funds are entering,
it doesn't guarantee a subsequent rise. In fact, excessively positive funding can sometimes precede new liquidations if the market is too tilted towards the bullish side.
