STX is so quiet at dawn, and the shorts are still helping longs pay 👀
After Bitcoin holds steady above 78K, the Bitcoin L2 track has been one of the most reliable beneficiaries of this altcoin season. STX is up +15.69% today, touching a high of $0.2893, and is now pulling back to around $0.278 to catch its breath.
The most interesting part is this: the funding rate is -0.059%, meaning short positions are continuously “subsidizing” longs. Open interest (OI) of 42.72 million coins hasn’t shown any obvious shrinkage, indicating that shorts aren’t exiting and longs aren’t leaving—both sides are head-on battling at the $0.28 whole-number level.
This kind of structure is actually quite common in altcoin season— the more stubborn the shorts are, the stronger the squeeze can be. Of course, whole-number levels are also resistance; whether it can hold effectively depends on where BTC goes today.
Trading volume is $136 million, with 1.2 million trades—liquidity is plenty, not the kind of cold, lifeless market where no one participates.
Not every coin gets a turn in altcoin season, but this BTC L2 line is definitely worth continuing to watch tonight.
Click the card below to quickly check the行情👇
#STX #BitcoinL2 #山寨季 #squeeze structure
After Bitcoin holds steady above 78K, the Bitcoin L2 track has been one of the most reliable beneficiaries of this altcoin season. STX is up +15.69% today, touching a high of $0.2893, and is now pulling back to around $0.278 to catch its breath.
The most interesting part is this: the funding rate is -0.059%, meaning short positions are continuously “subsidizing” longs. Open interest (OI) of 42.72 million coins hasn’t shown any obvious shrinkage, indicating that shorts aren’t exiting and longs aren’t leaving—both sides are head-on battling at the $0.28 whole-number level.
This kind of structure is actually quite common in altcoin season— the more stubborn the shorts are, the stronger the squeeze can be. Of course, whole-number levels are also resistance; whether it can hold effectively depends on where BTC goes today.
Trading volume is $136 million, with 1.2 million trades—liquidity is plenty, not the kind of cold, lifeless market where no one participates.
Not every coin gets a turn in altcoin season, but this BTC L2 line is definitely worth continuing to watch tonight.
Click the card below to quickly check the行情👇
#STX #BitcoinL2 #山寨季 #squeeze structure
