BNC’s 24-hour increase is 38.655%, price at 5.463. Open interest reaches 2.61 million, as the market is pricing in expectations of a military conflict.

Key judgment: The abnormal surge of on-chain US stock BNC, along with a positive funding rate (0.014), indicates that bullish sentiment is in control, betting that the conflict will be favorable for its business.

Evidence chain: The asset’s huge day-over-day price gain and the positive funding rate suggest leveraged long positions have the advantage—this is a single signal from the market betting on the military concept.