$IREN The thing that got my attention today isn’t that it’s up +2.34%—it’s that the funding rate is still at +0.0000%.
Honestly, I’ll look at this kind of price action twice.
The perpetual price is $40.18, with the 24-hour high/low between $41.06 and $38.37, which shows it has movement and emotions.
But the trading volume is only $4.57M, while the open interest is 65,480 contracts—heat is there, sentiment is there too, yet the funding rate isn’t being pushed up.
My understanding is that the market hasn’t reached the stage of chasing longs one-sidedly yet.
In that state, it can actually be friendlier for people who are bullish.
During the day I changed UI until my eyes hurt, and at night I sat alone in the living room eating cold kanto-style ramen and looking at this kind of trade—I’d care more whether it’s overpriced or not than whether it was the strongest today.
$IREN itself is a Bitcoin mining company. Even if I don’t dig into its company-story details, just looking at the sector tells me it feeds on two things: one is Bitcoin’s price sentiment, and the other is how the market values compute-power assets.
As long as the market is willing again to trade “Bitcoin-related equities,” mining companies usually won’t be the last group to be noticed.
Also, mining companies aren’t quite the same as simply holding $BTC directly.
Many times, they’re more like an equity mapping with operating leverage.
As long as the environment for the coin price isn’t bad, the market tends to think about these companies with higher elasticity—and that’s one reason I pay attention to it.
Another point: over on Binance, you can buy the TradFi sector directly, and you can also open perpetuals. Naturally, it’s easier for Binance to capture the attention of crypto traders.
Some family members may not usually follow the path of traditional broker platforms, but when they see an asset like this sitting in the front rows of the perpetuals gainers list, they’ll often take a quick look.
Attention itself is sometimes the starting point for a story being retold in valuation terms.
But I won’t blindly jump in either.
For this direction, the biggest variable has never changed: it’s too sensitive to Bitcoin’s走势. Once sentiment turns cold, the stock price is often more fragile than the coin.
Plus, it surged above $41.06 today and then slipped back near $40.18—I feel like there isn’t zero selling pressure overhead.
So my stance is bullish overall, but I’m more inclined to watch and enter in batches rather than chasing that one footstep when the sentiment is at its fullest.
I put on a bit of an observation position. I might be wrong, but I’m willing to track it from here. If I lose, don’t cue me; if I profit, treat me to a coffee.$IREN #USStocks
Honestly, I’ll look at this kind of price action twice.
The perpetual price is $40.18, with the 24-hour high/low between $41.06 and $38.37, which shows it has movement and emotions.
But the trading volume is only $4.57M, while the open interest is 65,480 contracts—heat is there, sentiment is there too, yet the funding rate isn’t being pushed up.
My understanding is that the market hasn’t reached the stage of chasing longs one-sidedly yet.
In that state, it can actually be friendlier for people who are bullish.
During the day I changed UI until my eyes hurt, and at night I sat alone in the living room eating cold kanto-style ramen and looking at this kind of trade—I’d care more whether it’s overpriced or not than whether it was the strongest today.
$IREN itself is a Bitcoin mining company. Even if I don’t dig into its company-story details, just looking at the sector tells me it feeds on two things: one is Bitcoin’s price sentiment, and the other is how the market values compute-power assets.
As long as the market is willing again to trade “Bitcoin-related equities,” mining companies usually won’t be the last group to be noticed.
Also, mining companies aren’t quite the same as simply holding $BTC directly.
Many times, they’re more like an equity mapping with operating leverage.
As long as the environment for the coin price isn’t bad, the market tends to think about these companies with higher elasticity—and that’s one reason I pay attention to it.
Another point: over on Binance, you can buy the TradFi sector directly, and you can also open perpetuals. Naturally, it’s easier for Binance to capture the attention of crypto traders.
Some family members may not usually follow the path of traditional broker platforms, but when they see an asset like this sitting in the front rows of the perpetuals gainers list, they’ll often take a quick look.
Attention itself is sometimes the starting point for a story being retold in valuation terms.
But I won’t blindly jump in either.
For this direction, the biggest variable has never changed: it’s too sensitive to Bitcoin’s走势. Once sentiment turns cold, the stock price is often more fragile than the coin.
Plus, it surged above $41.06 today and then slipped back near $40.18—I feel like there isn’t zero selling pressure overhead.
So my stance is bullish overall, but I’m more inclined to watch and enter in batches rather than chasing that one footstep when the sentiment is at its fullest.
I put on a bit of an observation position. I might be wrong, but I’m willing to track it from here. If I lose, don’t cue me; if I profit, treat me to a coffee.$IREN #USStocks