$INTW Over the past 24 hours, it fell 6.35% to 33.19, with the funding rate staying at a positive value of 0.000027. Global risk-asset sentiment cooling is filtering through to on-chain S&P 500 stock futures contracts; longs continue to pay funding as prices move downward, worsening cost accumulation. The current structure is that longs are trapped, and the funding rate is squeezing their profit margins. The counterpoint is that if a sudden piece of broadly positive global news emerges, it could trigger a long squeeze back. The second-order effect is that if prices continue to grind lower, long stop-loss selling will drive an accelerated decline. The invalidation condition is that the price recovers 35 and the funding rate turns negative.

Trading tag: #TradFi #链上美股 #INTW

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