$T Dropped from 0.005696 all the way down to 0.004685 in one continuous move—an approximately 14-point decline plays out on a single line. The low at 0.00458 was almost a breakdown.
Let’s look at the funding rate first: -0.1092%. The daily cost is -0.33%. For every 100 U held overnight, it’s deducted by 0.33 U. —The shorts are effectively subsidizing the longs, which suggests the short-side force hasn’t been fully squeezed out yet. But the price has already fallen 15%, and the funding rate is still this negative. That indicates someone is actively adding to positions and holding the line—nobody on either side is backing off.
Trading volume: $91 million, with turnover of 18.1 billion—this is a sell-off with volume, not a low-volume, slow, bearish drift. The key is that low at 0.00458: if it breaks, it turns into an acceleration phase; if it holds, first watch whether a rebound can reclaim the 0.00515–0.00530 range and hold there, and then try to test the prior high at 0.00569.
Set the stop-loss below 0.00450—cutting a 4-point loss to buy back the opportunity to move back toward 0.0057.
#T
Let’s look at the funding rate first: -0.1092%. The daily cost is -0.33%. For every 100 U held overnight, it’s deducted by 0.33 U. —The shorts are effectively subsidizing the longs, which suggests the short-side force hasn’t been fully squeezed out yet. But the price has already fallen 15%, and the funding rate is still this negative. That indicates someone is actively adding to positions and holding the line—nobody on either side is backing off.
Trading volume: $91 million, with turnover of 18.1 billion—this is a sell-off with volume, not a low-volume, slow, bearish drift. The key is that low at 0.00458: if it breaks, it turns into an acceleration phase; if it holds, first watch whether a rebound can reclaim the 0.00515–0.00530 range and hold there, and then try to test the prior high at 0.00569.
Set the stop-loss below 0.00450—cutting a 4-point loss to buy back the opportunity to move back toward 0.0057.
#T