This MOVR move is shorts lifting the longs’ sedan bear by bear.
From 0.97 to 1.6 in a day—that’s up 65%. You’d think more people would chase longs, but Binance is doing the opposite: short accounts were 40% five hours ago, and now they’re up to 47%.
As it keeps rising, more people start shorting, and the funding rate flips. Binance funding rate went from a steady positive 0.005% to negative 0.025%, with shorts getting paid every four hours. Bybit is even harsher—down to negative 0.052%.
Even getting paid to short can’t hold back the rally. In the past hour, $235,000 was liquidated, and almost all of it was short positions. Of the money blown up in this day, shorts account for 84%.
The more shorts pile up, the more fuel the next bullish candle has. Would you come here to top-tick and short?
View in real time: https://www.coinboss.com/zh/funding-rate/MOVR