$GUA GUA negative funding rate is close to -2%, still firmly bearish.
What’s really worth noting isn’t the 13.56% drop, but the funding rate has already been compressed to -1.9189%, and the price is still sitting at 0.6106. With short costs this high, the market still hasn’t pushed the price back up, indicating that the weakness is still suppressing the action.
The 24-hour trading volume is about $37.04 million, with an open interest of around 9.6 million coins. This isn’t just a slow bleed from a lack of trades; it’s a continuous turnover amid high volatility.
My approach won’t be to blindly chase shorts at this level; instead, I’ll wait for a rebound to reveal insufficient support before shorting again. First target is 0.5326; if we break that, the bearish trend will further open up.
0.7831 is the invalidation level. If we reclaim this level, I’ll admit the bearish thesis is over; until then, even an extreme negative funding rate isn’t a reason to catch a falling knife.
What’s really worth noting isn’t the 13.56% drop, but the funding rate has already been compressed to -1.9189%, and the price is still sitting at 0.6106. With short costs this high, the market still hasn’t pushed the price back up, indicating that the weakness is still suppressing the action.
The 24-hour trading volume is about $37.04 million, with an open interest of around 9.6 million coins. This isn’t just a slow bleed from a lack of trades; it’s a continuous turnover amid high volatility.
My approach won’t be to blindly chase shorts at this level; instead, I’ll wait for a rebound to reveal insufficient support before shorting again. First target is 0.5326; if we break that, the bearish trend will further open up.
0.7831 is the invalidation level. If we reclaim this level, I’ll admit the bearish thesis is over; until then, even an extreme negative funding rate isn’t a reason to catch a falling knife.
