The funding rate is still +0.0000%, but in the past 24 hours it already pushed up with a very strong surge candle. I’ll note this contrast for now. $CRM : On the perpetuals, the trading volume reached 11.46M USDT, open interest is 4,078 contracts. It’s not the kind of structure where sentiment is completely squeezed out. After the price surged to 237.1, it pulled back to 232.21. Over the last 24 hours it’s still up +13.95%, which suggests there is chasing capital, but the overheating signs haven’t reached the most extreme level yet.
I’m generally bullish—not because it rose that much in a single day, but because when a leading enterprise software stock like this gets repriced by the market again, its continuity often isn’t solely dependent on sentiment. The name Salesforce itself carries sector representativeness. In my understanding, it’s still largely tied to the themes of enterprise digitization, customer management, and data integration. The market is currently willing to give this kind of asset more attention. The key isn’t whether the story is new or not—it’s whether big companies’ spending on software keeps recovering, and whether the AI narrative can genuinely translate into enterprise efficiency and willingness to pay. As long as this thesis hasn’t been disproven, capital tends to come back repeatedly.
On the chart, what I care about more is this: when it rises this fast today, why hasn’t the funding rate been pushed up. At times like this, I generally don’t rush to chase the entire green candle. I’ll wait for it to stabilize around the 230 area, then consider opening a very light position, with size around 3%-5%. If afterward the open interest keeps rising and the funding rate still doesn’t expand, it indicates the added positioning isn’t entirely overcrowded longs—and then this move has the conditions to continue trending.
As for variables, I’ll be very direct: once this kind of stock gaps up and runs hard, the worst case is that on the second day volume doesn’t pick up, and it turns into short-term capital rotating among themselves. One more point—perpetuals aren’t the same as the actual U.S. stock underlying. If the basis suddenly widens during the session, the experience for those chasing orders will get worse. I’m not shorting right now; I’ll wait for a pullback and see how it holds.
$CRM #USstocks
Don’t go all-in. And if you lose, don’t blame me.
I’m generally bullish—not because it rose that much in a single day, but because when a leading enterprise software stock like this gets repriced by the market again, its continuity often isn’t solely dependent on sentiment. The name Salesforce itself carries sector representativeness. In my understanding, it’s still largely tied to the themes of enterprise digitization, customer management, and data integration. The market is currently willing to give this kind of asset more attention. The key isn’t whether the story is new or not—it’s whether big companies’ spending on software keeps recovering, and whether the AI narrative can genuinely translate into enterprise efficiency and willingness to pay. As long as this thesis hasn’t been disproven, capital tends to come back repeatedly.
On the chart, what I care about more is this: when it rises this fast today, why hasn’t the funding rate been pushed up. At times like this, I generally don’t rush to chase the entire green candle. I’ll wait for it to stabilize around the 230 area, then consider opening a very light position, with size around 3%-5%. If afterward the open interest keeps rising and the funding rate still doesn’t expand, it indicates the added positioning isn’t entirely overcrowded longs—and then this move has the conditions to continue trending.
As for variables, I’ll be very direct: once this kind of stock gaps up and runs hard, the worst case is that on the second day volume doesn’t pick up, and it turns into short-term capital rotating among themselves. One more point—perpetuals aren’t the same as the actual U.S. stock underlying. If the basis suddenly widens during the session, the experience for those chasing orders will get worse. I’m not shorting right now; I’ll wait for a pullback and see how it holds.
$CRM #USstocks
Don’t go all-in. And if you lose, don’t blame me.