BTR drops 48.51% in 24 hours to 0.04596, with the single-day decline already amounting to a crash. The market is undergoing a brutal long liquidation; shorts have completely taken control of the battlefield.
The key judgment is that the downward momentum has not yet run out. The negative funding rate (-0.00003925) indicates that while short positions have a positive cost basis, they are still choosing to pay—meaning bearish positions are firmly held, and the price still has momentum to test lower levels. The strongest counterpoint is that after an extreme selloff, mass profit-taking by shorts could trigger a sharp rebound in the short term. The second-order effect is that long stop-loss orders and liquidation orders will become fuel for the next wave of declines.
The key judgment is that the downward momentum has not yet run out. The negative funding rate (-0.00003925) indicates that while short positions have a positive cost basis, they are still choosing to pay—meaning bearish positions are firmly held, and the price still has momentum to test lower levels. The strongest counterpoint is that after an extreme selloff, mass profit-taking by shorts could trigger a sharp rebound in the short term. The second-order effect is that long stop-loss orders and liquidation orders will become fuel for the next wave of declines.