$BMNR The past 24 hours saw a -3.752% drop; current price is $14.62. Old dog glanced at the funding rate—0.0375%. It looks rather ordinary, but the price has been smashed down so much for real. Somehow this funding rate still hasn’t turned negative. The longs are still paying the shorts in a very obedient way—this is kind of interesting.
I checked the open position size: over 360,000 contracts, and it’s hardly budged. The longs aren’t reducing positions as the price falls; the funding rate isn’t turning negative. This suggests the longs are stubbornly holding on. A common mistake the market makes is taking this kind of holding as a support signal; in fact, it’s the opposite— the harder they hold, the easier it becomes to get harvested. When the downtrend is on and the funding rate is still positive, the old dog’s iron rule is: don’t rush to bottom-fish. The longs’ ammo will be drained by the funding rate sooner or later. Once a certain level breaks, a chain liquidation can come very quickly. If 14.2 can’t be held down, then we’ll have to look at the 13.8 to 13.5 range—that’s the zone where the shorts truly want to feast.
This move with $BMNR didn’t follow any sector linkage. The whole TRADIFI sequence today, it’s down on its own—its independence is too strong, so you can’t use the sector rotation logic to chase entries. Looking at the order book, there are traces of large orders being passively filled, but the resting orders are thin and the bids don’t have much bite. It feels more like a market maker is maintaining depth—not that kind of aggressive accumulation. For this kind of order-flow rebound, it often gets slapped back right after it touches a resistance level. Above, around 15 to 15.3, there’s a cluster of short-term trapped coins from the past few hours. Here, longs and shorts will keep tearing at each other.
Old dog’s stance is very clear now: stay light on position, short, and wait. As long as the price can’t reclaim 15.3, I won’t go long. If it breaks below 14.2, I’ll also clear the current observation position—I’d rather miss the trade than catch a falling knife. Wait until the funding rate turns negative in a miserable, gray-faced way, then consider coming back to look for opportunities. Last time there was a US stock mapping contract with a similar path: for three straight days the funding rate didn’t move at all. I got itchy and rushed in around 14, and the result was a single needle that poked it down to 13. When I cut out, my leg was already swollen from the damage—old dog remembers that taste very clearly.
Trading tag: #BinanceFutures #TradFi #USDⓈM #BMNR #BMNRUSDT $BMNR
I checked the open position size: over 360,000 contracts, and it’s hardly budged. The longs aren’t reducing positions as the price falls; the funding rate isn’t turning negative. This suggests the longs are stubbornly holding on. A common mistake the market makes is taking this kind of holding as a support signal; in fact, it’s the opposite— the harder they hold, the easier it becomes to get harvested. When the downtrend is on and the funding rate is still positive, the old dog’s iron rule is: don’t rush to bottom-fish. The longs’ ammo will be drained by the funding rate sooner or later. Once a certain level breaks, a chain liquidation can come very quickly. If 14.2 can’t be held down, then we’ll have to look at the 13.8 to 13.5 range—that’s the zone where the shorts truly want to feast.
This move with $BMNR didn’t follow any sector linkage. The whole TRADIFI sequence today, it’s down on its own—its independence is too strong, so you can’t use the sector rotation logic to chase entries. Looking at the order book, there are traces of large orders being passively filled, but the resting orders are thin and the bids don’t have much bite. It feels more like a market maker is maintaining depth—not that kind of aggressive accumulation. For this kind of order-flow rebound, it often gets slapped back right after it touches a resistance level. Above, around 15 to 15.3, there’s a cluster of short-term trapped coins from the past few hours. Here, longs and shorts will keep tearing at each other.
Old dog’s stance is very clear now: stay light on position, short, and wait. As long as the price can’t reclaim 15.3, I won’t go long. If it breaks below 14.2, I’ll also clear the current observation position—I’d rather miss the trade than catch a falling knife. Wait until the funding rate turns negative in a miserable, gray-faced way, then consider coming back to look for opportunities. Last time there was a US stock mapping contract with a similar path: for three straight days the funding rate didn’t move at all. I got itchy and rushed in around 14, and the result was a single needle that poked it down to 13. When I cut out, my leg was already swollen from the damage—old dog remembers that taste very clearly.
Trading tag: #BinanceFutures #TradFi #USDⓈM #BMNR #BMNRUSDT $BMNR