$BNC rose 3.186% in the past 24 hours, but the funding rate is -0.00179298, meaning shorts are paying.
The immediate driver of this upswing is contract compression, not spot demand. Shorts keep paying, yet the price still moves upward—this is a classic short squeeze setup. Open interest of 176,000 contracts shows no obvious change, suggesting the shorts haven’t surrendered on a large scale yet, and this squeeze force may still have momentum.
The counterargument is that this is purely a contract-driven game: if the price drops, these shorts could use the opportunity to reduce positions, and users who went long on contracts will bear the cost.
Trading tag: #TradFi #链上美股 #BNC
Where do you think this assessment is most likely to be wrong?
The immediate driver of this upswing is contract compression, not spot demand. Shorts keep paying, yet the price still moves upward—this is a classic short squeeze setup. Open interest of 176,000 contracts shows no obvious change, suggesting the shorts haven’t surrendered on a large scale yet, and this squeeze force may still have momentum.
The counterargument is that this is purely a contract-driven game: if the price drops, these shorts could use the opportunity to reduce positions, and users who went long on contracts will bear the cost.
Trading tag: #TradFi #链上美股 #BNC
Where do you think this assessment is most likely to be wrong?