$80,464 24-hour drop of 0.69%. This pullback today is a bit grinding, but I actually don’t think it’s the end.
First, the data itself: from 81,951 down to 80,126—the drop from the high isn’t that large, and volume hasn’t expanded either. This kind of low-volume pullback often isn’t the bottom.
Now let’s focus on the funding rates. The current funding rate for mainstream coins is about 0.01%—it looks quite mild, right? But go take a look at the market on the smaller coins: the shorts there are downright crazy—AKE has a funding rate of -1.7%, ONG -0.74%, and SKL -0.31%. It’s all negative, and still extremely extreme. What does that indicate? The short side is making wild bets, wagering that the smaller coins will keep falling.
I’ve placed long orders around $79,000 with a stop-loss at 78,500. If this level can hold, together with this sell-off volume, it suggests the bulls aren’t really dead—they’re just shaking out positions. If price breaks below 79,000, then I’ll accept the loss and step aside to wait.
As for resistance, I’m watching 81,500–81,951. If it holds and rebounds into that range, I may reduce my position.
Write2Earn market analysis
Do you think 80,000 can be held?
#Write2Earn #Crypto
⚠️ Personal opinion only; not investment advice.
First, the data itself: from 81,951 down to 80,126—the drop from the high isn’t that large, and volume hasn’t expanded either. This kind of low-volume pullback often isn’t the bottom.
Now let’s focus on the funding rates. The current funding rate for mainstream coins is about 0.01%—it looks quite mild, right? But go take a look at the market on the smaller coins: the shorts there are downright crazy—AKE has a funding rate of -1.7%, ONG -0.74%, and SKL -0.31%. It’s all negative, and still extremely extreme. What does that indicate? The short side is making wild bets, wagering that the smaller coins will keep falling.
I’ve placed long orders around $79,000 with a stop-loss at 78,500. If this level can hold, together with this sell-off volume, it suggests the bulls aren’t really dead—they’re just shaking out positions. If price breaks below 79,000, then I’ll accept the loss and step aside to wait.
As for resistance, I’m watching 81,500–81,951. If it holds and rebounds into that range, I may reduce my position.
Write2Earn market analysis
Do you think 80,000 can be held?
#Write2Earn #Crypto
⚠️ Personal opinion only; not investment advice.