Don’t look at how $BTC is down 2% today. The real danger is those coins that "look like they’re falling."
$STORJ funding rate is -0.59%. Shorts are crowded to this extent—either someone is intentionally dumping to flush liquidity and lure shorts, or shorts are about to get squeezed. This kind of negative funding rate is, in normal times, a contrarian signal.
HOME is -0.48%, STX is -0.29%, ACE is -0.22%—all negative. And BNC is the only positive funding rate at 0.24%, which means longs are overheated. Both directions are dangerous—when shorts are crowded, they can get forced out at any time; when longs are crowded, they can get dumped at any time.
I placed a small long position on $STORJ and set the stop loss at 0.035. I’m betting on this round of short covering. When the funding rate deviates extremely, it’s often when small-cap coins are experiencing the biggest swings.
BTC is now exactly 79,000, ranging from 77,851 to 80,923. Volume is 1.65B—not a contraction. My take is that the market is cleaning up derivatives positions, and the small coins where shorts are concentrated are more likely to break out with an independent move.
How far do you think this STORJ short covering can go?
#Write2Earn #Crypto
⚠️ Personal opinion only; not investment advice.
$STORJ funding rate is -0.59%. Shorts are crowded to this extent—either someone is intentionally dumping to flush liquidity and lure shorts, or shorts are about to get squeezed. This kind of negative funding rate is, in normal times, a contrarian signal.
HOME is -0.48%, STX is -0.29%, ACE is -0.22%—all negative. And BNC is the only positive funding rate at 0.24%, which means longs are overheated. Both directions are dangerous—when shorts are crowded, they can get forced out at any time; when longs are crowded, they can get dumped at any time.
I placed a small long position on $STORJ and set the stop loss at 0.035. I’m betting on this round of short covering. When the funding rate deviates extremely, it’s often when small-cap coins are experiencing the biggest swings.
BTC is now exactly 79,000, ranging from 77,851 to 80,923. Volume is 1.65B—not a contraction. My take is that the market is cleaning up derivatives positions, and the small coins where shorts are concentrated are more likely to break out with an independent move.
How far do you think this STORJ short covering can go?
#Write2Earn #Crypto
⚠️ Personal opinion only; not investment advice.