Contract 18.439 billion, spot 2.029 billion, turnover ratio 9.1x, and $BTC is still moving sideways around 79166. BIT’s 419 million ($ETH ) and $BTC long positions were closed out, making 55.09 million. I don’t interpret it as “higher is coming”; I treat it as a standard take-profit executed as liquidity flows out.
The funding rate is only +0.01%, OI is 108,315 BTC—not crowded—but the issue is that leveraged trading has already run too far ahead of spot, while the price hasn’t reclaimed the high at 81272. This discrepancy on my side isn’t a chasing-long signal; it’s above where someone is still taking orders to keep selling.
Right now, I have $BTC 80150 set to short, stop-loss 81380, and my first target is 78400. Position size is 4%. If it first pulls back around 78120 and then gets bought back up, I won’t chase this order—I’ll wait until the late session of the US market and then look at order flow to flip the position. Large players taking profit isn’t confirmation of the top, but with this kind of trade structure, at least it’s not worth raising the bar for someone else.$BTC #BTC
The market picture is changing—today may not match tomorrow.
The funding rate is only +0.01%, OI is 108,315 BTC—not crowded—but the issue is that leveraged trading has already run too far ahead of spot, while the price hasn’t reclaimed the high at 81272. This discrepancy on my side isn’t a chasing-long signal; it’s above where someone is still taking orders to keep selling.
Right now, I have $BTC 80150 set to short, stop-loss 81380, and my first target is 78400. Position size is 4%. If it first pulls back around 78120 and then gets bought back up, I won’t chase this order—I’ll wait until the late session of the US market and then look at order flow to flip the position. Large players taking profit isn’t confirmation of the top, but with this kind of trade structure, at least it’s not worth raising the bar for someone else.$BTC #BTC
The market picture is changing—today may not match tomorrow.