$BEAT 24 hours plunge 28.992% to 0.0916, yet the contract funding rate remains positive at 0.00005000.
Judgment: Long positions are being potentially misled by possible political narratives; they stubbornly refuse to exit, but the market continues to vote with its feet.
Evidence: The price depth has plunged, but shorts still have to pay longs (funding rate is positive), indicating that even while at a loss, longs are paying costs to maintain their positions, creating one-sided downward pressure.
Counterargument: The absolute value of the funding rate is extremely low, close to balance; selling pressure may be exhausted.
Judgment: Long positions are being potentially misled by possible political narratives; they stubbornly refuse to exit, but the market continues to vote with its feet.
Evidence: The price depth has plunged, but shorts still have to pay longs (funding rate is positive), indicating that even while at a loss, longs are paying costs to maintain their positions, creating one-sided downward pressure.
Counterargument: The absolute value of the funding rate is extremely low, close to balance; selling pressure may be exhausted.