$BTR I’m only watching right now and I won’t chase this rebound. The price pulled back from around 0.151 to 0.186, but the open interest instead fell from about 273 million to 266 million, which suggests the price rise is driven more by old positions exiting, with no fresh capital stepping in yet.
The path on both sides is consistent: the Binance futures contract bounced from 0.15125 to 0.18659, while Alpha over the same period moved from 0.15188 back to 0.18600—excluding a single-market spike. The 24-hour futures trading volume has exceeded $425 million, with a funding rate around +0.059%, meaning longs are paying. On the account side, about 70% is short; the fuel for squeezing shorts is still there, but open interest continues to drop, so I’m reluctant to follow.
I’ll wait for 0.180—0.182 to pull back and hold, and only then will I stop adding/closing positions. A true reversal to long requires a 1-hour candle closing above 0.188 and pulling open interest back to above 270 million. If it breaks below 0.176, this rebound attempt fails—I'll keep watching.#BTR #Bitlayer #BTCFi
The path on both sides is consistent: the Binance futures contract bounced from 0.15125 to 0.18659, while Alpha over the same period moved from 0.15188 back to 0.18600—excluding a single-market spike. The 24-hour futures trading volume has exceeded $425 million, with a funding rate around +0.059%, meaning longs are paying. On the account side, about 70% is short; the fuel for squeezing shorts is still there, but open interest continues to drop, so I’m reluctant to follow.
I’ll wait for 0.180—0.182 to pull back and hold, and only then will I stop adding/closing positions. A true reversal to long requires a 1-hour candle closing above 0.188 and pulling open interest back to above 270 million. If it breaks below 0.176, this rebound attempt fails—I'll keep watching.#BTR #Bitlayer #BTCFi