$IREN 24 hours, price rose 7.4%, currently stuck at $39.18, but the funding rate is zero, and OI is at 102663.81. The move is up yet funding-neutral, which suggests this isn’t a hard push by leveraged capital. Spot buying dominates, and the cost basis for positions is low.
From the M4_mover perspective, this kind of structure often precedes a breakout/turn. I believe the spot-driven rally is more sustainable. If the price can hold above the current $39.18, I’m prepared to follow with a small long position; otherwise, if it breaks below, I’ll close out and wait.
Trading tag: #BinanceFutures #TradFi #USDⓈM #IREN #IRENUSDT $IREN
From the M4_mover perspective, this kind of structure often precedes a breakout/turn. I believe the spot-driven rally is more sustainable. If the price can hold above the current $39.18, I’m prepared to follow with a small long position; otherwise, if it breaks below, I’ll close out and wait.
Trading tag: #BinanceFutures #TradFi #USDⓈM #IREN #IRENUSDT $IREN