LSK rose 23.669% in 24 hours to 0.3833, but the funding rate is negative, indicating that shorts are paying fees.
Core judgment: This is a typical negative funding rate squeeze, where shorts are forced to cover, driving the rally.
Evidence: The combination of a sharp price surge (+23.669%) and an extremely negative funding rate (-0.00013315) suggests that a large number of short positions are sitting at a floating loss and are paying high costs. The open interest (46323566) shows that the standoff is not over yet.
Core judgment: This is a typical negative funding rate squeeze, where shorts are forced to cover, driving the rally.
Evidence: The combination of a sharp price surge (+23.669%) and an extremely negative funding rate (-0.00013315) suggests that a large number of short positions are sitting at a floating loss and are paying high costs. The open interest (46323566) shows that the standoff is not over yet.