$CRCL In the past 24 hours, it fell 5.787%, and the current price is 89.06. This underlying asset belongs to the CryptoLink sector in Binance Chain U.S. stock perpetual contracts, and is directly linked to traditional financial markets.
This drop has directly trapped the people who chased longs. The funding rate is 0.00023299, which is still positive—meaning the long side is continuously paying the short side. When the price is falling and the funding rate is positive, this is a classic situation of longs being trapped while adding to positions. They are using additional margin to harden through the drawdown. The open interest is $860k and hasn’t decreased much, indicating the longs haven’t accepted exiting yet.
At a recent campaign rally, Trump again mentioned a tendency to tighten regulation on tech stocks and digital assets. This is a direct negative sentiment catalyst for contract assets that are linked to traditional finance. Right now, the longs are effectively betting that policy will change course, but the signals from both price and funding show they’re betting very painfully.
The strongest counter-evidence is that if Trump suddenly releases a clear policy signal supporting cryptocurrencies through traditional channels, it could instantly boost sentiment. But a single policy remark is unlikely to immediately reverse the downward trend that has already formed, or the cost structure of the long positions.
The second-order effect is very clear: these longs holding on are potential fuel for a liquidation cascade.
Trading tag: #TradFi #链上美股 #CRCL
Where do you think this analysis is most likely to be wrong?
This drop has directly trapped the people who chased longs. The funding rate is 0.00023299, which is still positive—meaning the long side is continuously paying the short side. When the price is falling and the funding rate is positive, this is a classic situation of longs being trapped while adding to positions. They are using additional margin to harden through the drawdown. The open interest is $860k and hasn’t decreased much, indicating the longs haven’t accepted exiting yet.
At a recent campaign rally, Trump again mentioned a tendency to tighten regulation on tech stocks and digital assets. This is a direct negative sentiment catalyst for contract assets that are linked to traditional finance. Right now, the longs are effectively betting that policy will change course, but the signals from both price and funding show they’re betting very painfully.
The strongest counter-evidence is that if Trump suddenly releases a clear policy signal supporting cryptocurrencies through traditional channels, it could instantly boost sentiment. But a single policy remark is unlikely to immediately reverse the downward trend that has already formed, or the cost structure of the long positions.
The second-order effect is very clear: these longs holding on are potential fuel for a liquidation cascade.
Trading tag: #TradFi #链上美股 #CRCL
Where do you think this analysis is most likely to be wrong?