Contract Order Book Daily｜9/3 Midday: Mixed Price Movement, but Fees Are Inverted
$BTC Mark Price: 77.7万, up 0.12% in 24 hours.
$ETH Mark Price: 2403, but it’s down 0.62%.
What’s strange is that the funding rate isn’t moving with the price.
$ETH funding rate is 0.0094%, higher than $BTC ’s 0.0081%.
In the drop, longs are actually more willing to pay for their positions.
This becomes even more interesting when you put two pieces of news together.
The chair of the U.S. SEC has been saying over the past few days that the crypto clarity bill has a chance of passing this month.
At the same time, Japan-listed company Remixpoint, in a reversal, cleared out its holdings of Ethereum and Ripple, leaving only Bitcoin on its books.
One side is policy giving sentiment a boost; the other side is real capital concentrating toward Bitcoin in that direction.
The Fear & Greed Index is 65, landing in the greed zone—matching this sentiment.
Bitcoin futures open interest is $8.369 billion, down 0.7% from the previous time, and leverage hasn’t gone down—it’s only being slightly withdrawn.
But the long ratio is 55%; the aggressive buy side is 1.59 times the sell side.
Withdrawal happens, but those who dare to stay are still the buyers with the advantage.
Among the three small coins with the most negative fees—LA, ANKR, and ACE—shorts are effectively paying extra to hold positions. At this kind of level, once there’s a rebound, a squeeze is likely.
Conversely, PAYP, BNC, and FWDI have their funding rates turned positive at most—meaning longs are rushing to pay. When prices fall, this group is also the first to get buried.
No matter which side is crowded, it doesn’t necessarily mean the direction will go toward the crowded side.
A few hours ago, Trump Digital Gold just crashed 98%. Suspecting the project team ran off with $330,000, it shows that crowding and zeroing out can happen at the same time.
Next, just watch whether the funding rates of these three crowded shorts will narrow.
If just one of LA, ANKR, or ACE turns positive, put the squeeze logic aside first and wait for the next time crowds build again.
#合约盘口 # funding rate
Live trade log: This account currently holds $FOGO long positions. The logic hasn’t changed—will continue to hold.
Claude Fable 5 assists with generation; the content is for market information reference only and does not constitute investment advice.
$BTC Mark Price: 77.7万, up 0.12% in 24 hours.
$ETH Mark Price: 2403, but it’s down 0.62%.
What’s strange is that the funding rate isn’t moving with the price.
$ETH funding rate is 0.0094%, higher than $BTC ’s 0.0081%.
In the drop, longs are actually more willing to pay for their positions.
This becomes even more interesting when you put two pieces of news together.
The chair of the U.S. SEC has been saying over the past few days that the crypto clarity bill has a chance of passing this month.
At the same time, Japan-listed company Remixpoint, in a reversal, cleared out its holdings of Ethereum and Ripple, leaving only Bitcoin on its books.
One side is policy giving sentiment a boost; the other side is real capital concentrating toward Bitcoin in that direction.
The Fear & Greed Index is 65, landing in the greed zone—matching this sentiment.
Bitcoin futures open interest is $8.369 billion, down 0.7% from the previous time, and leverage hasn’t gone down—it’s only being slightly withdrawn.
But the long ratio is 55%; the aggressive buy side is 1.59 times the sell side.
Withdrawal happens, but those who dare to stay are still the buyers with the advantage.
Among the three small coins with the most negative fees—LA, ANKR, and ACE—shorts are effectively paying extra to hold positions. At this kind of level, once there’s a rebound, a squeeze is likely.
Conversely, PAYP, BNC, and FWDI have their funding rates turned positive at most—meaning longs are rushing to pay. When prices fall, this group is also the first to get buried.
No matter which side is crowded, it doesn’t necessarily mean the direction will go toward the crowded side.
A few hours ago, Trump Digital Gold just crashed 98%. Suspecting the project team ran off with $330,000, it shows that crowding and zeroing out can happen at the same time.
Next, just watch whether the funding rates of these three crowded shorts will narrow.
If just one of LA, ANKR, or ACE turns positive, put the squeeze logic aside first and wait for the next time crowds build again.
#合约盘口 # funding rate
Live trade log: This account currently holds $FOGO long positions. The logic hasn’t changed—will continue to hold.
Claude Fable 5 assists with generation; the content is for market information reference only and does not constitute investment advice.
