【BTC finally not following the U.S. stocks down, but we still have to get through one more hurdle tonight】
The past two days’ market for BTC has been kind of interesting.
While U.S. stocks are still in turmoil, BTC has actually reclaimed the $64,000 level, and during the day it even surged to as high as $65,000.
Finally, it’s not falling along with U.S. stocks—great news 😂
But what I care about more right now is one data point: the perpetual contract funding rate has already surged to a 20-month high.
In simple terms, longs are getting a bit too excited again.
On top of that, Trump and crypto industry executives met, and the activity in derivatives has clearly picked up—market sentiment is definitely warmer than it was a few days ago.
So this move can be a little more optimistic, but don’t get overly excited.
The question now isn’t “is anyone bullish?” but rather:
With so many longs piling in, can BTC still keep moving higher?
If $64,000 can hold and $65,000 keeps getting eaten upward, then of course the trend has more room to play out.
But if it can’t break through, and the funding rate stays high the whole time, then with longs becoming too crowded, it’s easier for the market to “clean house.”
And tonight there’s another key variable.
At 2:00 a.m. on August 20 Beijing time, the FOMC meeting minutes will be released.
This time we don’t need to wait for the rate decision—the focus is mainly on how concerned the committee members are about oil prices and inflation, and whether there are obvious disagreements internally about the future policy path.
If the wording is more hawkish than what the market expects, BTC’s rebound could shake around again.
If it’s not that hawkish, the market may actually feel more at ease.
So today, just watch two things:
Whether BTC can hold above $64,000, and what the Fed says at 2 a.m.
BTC finally didn’t follow U.S. stocks,
hope it doesn’t end up ruining itself again.😂
The above is for personal market observation only and does not constitute investment advice. The crypto market is highly volatile—please manage risk.
#比特币永续合约资金费率创20个月新高
The past two days’ market for BTC has been kind of interesting.
While U.S. stocks are still in turmoil, BTC has actually reclaimed the $64,000 level, and during the day it even surged to as high as $65,000.
Finally, it’s not falling along with U.S. stocks—great news 😂
But what I care about more right now is one data point: the perpetual contract funding rate has already surged to a 20-month high.
In simple terms, longs are getting a bit too excited again.
On top of that, Trump and crypto industry executives met, and the activity in derivatives has clearly picked up—market sentiment is definitely warmer than it was a few days ago.
So this move can be a little more optimistic, but don’t get overly excited.
The question now isn’t “is anyone bullish?” but rather:
With so many longs piling in, can BTC still keep moving higher?
If $64,000 can hold and $65,000 keeps getting eaten upward, then of course the trend has more room to play out.
But if it can’t break through, and the funding rate stays high the whole time, then with longs becoming too crowded, it’s easier for the market to “clean house.”
And tonight there’s another key variable.
At 2:00 a.m. on August 20 Beijing time, the FOMC meeting minutes will be released.
This time we don’t need to wait for the rate decision—the focus is mainly on how concerned the committee members are about oil prices and inflation, and whether there are obvious disagreements internally about the future policy path.
If the wording is more hawkish than what the market expects, BTC’s rebound could shake around again.
If it’s not that hawkish, the market may actually feel more at ease.
So today, just watch two things:
Whether BTC can hold above $64,000, and what the Fed says at 2 a.m.
BTC finally didn’t follow U.S. stocks,
hope it doesn’t end up ruining itself again.😂
The above is for personal market observation only and does not constitute investment advice. The crypto market is highly volatile—please manage risk.
#比特币永续合约资金费率创20个月新高