Down 28% in 24 hours, yet the funding rate has surged to -0.22% — what is happening to Hakimi?
The price has kept sliding to 0.00828, and the hourly candlestick chart has closed three bearish candles in a row, making it look like the bears are fully in control. But interestingly, 55% of open positions are shorts, so the crowding is already quite high.
Such an extreme negative funding rate usually means two things: either shorts are aggressively using leverage to bet on further declines, or someone is accumulating at the high funding cost. Trading volume of 79M USDT is not small, which suggests this is not a low-volume grind lower.
I tend to think this is close to a short-term sentiment bottom. That doesn't mean an immediate rebound, but chasing shorts has already become a poor risk-reward trade; instead, it may be worth watching for signs of stabilization.
$HEMI #资金费率极端 #28%跌幅
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The price has kept sliding to 0.00828, and the hourly candlestick chart has closed three bearish candles in a row, making it look like the bears are fully in control. But interestingly, 55% of open positions are shorts, so the crowding is already quite high.
Such an extreme negative funding rate usually means two things: either shorts are aggressively using leverage to bet on further declines, or someone is accumulating at the high funding cost. Trading volume of 79M USDT is not small, which suggests this is not a low-volume grind lower.
I tend to think this is close to a short-term sentiment bottom. That doesn't mean an immediate rebound, but chasing shorts has already become a poor risk-reward trade; instead, it may be worth watching for signs of stabilization.
$HEMI #资金费率极端 #28%跌幅
Click the small card below to quickly check the market 👇
