$ENS fee rate flips out, OI still there
Just finished scanning Binance contracts. ENS, 6.687.
24h, -0.6%. Almost no movement.
But the funding rate dropped from +0.0017% to -0.0013%. It flipped negative.
Open interest +9.7%. The path is laid out here: 5.3M > 5.2M > 5.7M > 5.8M.
Price is falling, yet positions keep getting stacked up. Not a no-volume, slow bleed. Real money is adding.
Trading volume $25.7M. Market cap $669.8M. Spot pairs are on.
Shorts start to take the upper hand. The cost of being short is starting to rise.
With a deeper negative funding rate and low levels, the possibility of shorts covering is hanging there. Just a possibility, not a guarantee.
The most comfortable position now is often the one most easily bitten back by funding. Wait for confirmation.
Risk warning: Negative funding will eat into your position cost—don’t take "possible short covering" as "already reversed".
#ENS #币安 # Bitcoin
Just finished scanning Binance contracts. ENS, 6.687.
24h, -0.6%. Almost no movement.
But the funding rate dropped from +0.0017% to -0.0013%. It flipped negative.
Open interest +9.7%. The path is laid out here: 5.3M > 5.2M > 5.7M > 5.8M.
Price is falling, yet positions keep getting stacked up. Not a no-volume, slow bleed. Real money is adding.
Trading volume $25.7M. Market cap $669.8M. Spot pairs are on.
Shorts start to take the upper hand. The cost of being short is starting to rise.
With a deeper negative funding rate and low levels, the possibility of shorts covering is hanging there. Just a possibility, not a guarantee.
The most comfortable position now is often the one most easily bitten back by funding. Wait for confirmation.
Risk warning: Negative funding will eat into your position cost—don’t take "possible short covering" as "already reversed".
#ENS #币安 # Bitcoin