Old Dog took a look. In $BMNR 24 hours, it had risen 3.168%, and the funding rate was stuck at 0.00045167. This combination is interesting. A rising trend plus a positive funding rate is a classic sign of crowded longs, meaning the rally is longs paying shorts. Open interest (OI) is reported at 560,000, but both price and volume are moving, which suggests the funds are not purely covering shorts; instead, longs and shorts are disagreeing at the current level.

Trading tag: #BinanceFutures #TradFi #USDⓈM #BMNR #BMNRUSDT $BMNR