$ETH 1863, after three hours the funding still hasn’t flipped—no flip in thirty-six hours either.
Once you push it up, you sell it; once you push it up, you sell it again. This has been going on for several days. From 1927 down to 1862—grinding it for more than sixty rounds—yet the rhythm never changes. Every time it bounces up, it can’t be held. If it can’t be held, it falls back. It falls back, then bounces again; bounces up again, and then gets sold. Honestly, it’s hard to figure out what they’re doing.
But this time is different—the position is closer to the base around 1848. On the taker side, spot buys are 2.5 times the sells. There are people taking it, and taking quite a lot. Whale accounts are also adding to their positions—the exposure is up by more than half a percentage point. This isn’t retail buying. After 1848 got poked twice, it still didn’t break through. There are people guarding the bottom.
The contracts side is different: it’s been continuously selling. The funding rate flipped negative, and shorts are paying longs. Yet the three-hour funding line has never flipped; over thirty-six hours it hasn’t stopped either—the money has been steadily flowing out.
So now it’s basically this: spot is picking up, while contracts are dumping. One side wants to absorb, the other wants to exit. I can’t tell who’s right. But one thing is certain—chasing either direction from this spot feels awful.
Just wait and see which side can’t hold out first.
#eth $ETH
Once you push it up, you sell it; once you push it up, you sell it again. This has been going on for several days. From 1927 down to 1862—grinding it for more than sixty rounds—yet the rhythm never changes. Every time it bounces up, it can’t be held. If it can’t be held, it falls back. It falls back, then bounces again; bounces up again, and then gets sold. Honestly, it’s hard to figure out what they’re doing.
But this time is different—the position is closer to the base around 1848. On the taker side, spot buys are 2.5 times the sells. There are people taking it, and taking quite a lot. Whale accounts are also adding to their positions—the exposure is up by more than half a percentage point. This isn’t retail buying. After 1848 got poked twice, it still didn’t break through. There are people guarding the bottom.
The contracts side is different: it’s been continuously selling. The funding rate flipped negative, and shorts are paying longs. Yet the three-hour funding line has never flipped; over thirty-six hours it hasn’t stopped either—the money has been steadily flowing out.
So now it’s basically this: spot is picking up, while contracts are dumping. One side wants to absorb, the other wants to exit. I can’t tell who’s right. But one thing is certain—chasing either direction from this spot feels awful.
Just wait and see which side can’t hold out first.
#eth $ETH