In the past 24 hours, discussion of HBAR has doubled compared with the earlier period. But the loudest disagreement isn’t about the rise or the fall—it’s whether that batch of people who have already sided with the bulls are still counting.
Multiple market discussions mention the same set of figures: the bulls’ share is around 64% to 65%, while the corresponding open position size is described as having shrunk by 3 to 7 percentage points. Bulls are numerous, but the money backing the bets is less.
Funding rates are also repeatedly cited, hovering near zero to 0.01%. At this level, it suggests the bulls are unwilling to pay more to carry positions, and the bears aren’t rushing to strike either. Both sides are waiting for the other to make the first mistake.
The backdrop is that late-September move: according to public discussions, three consecutive four-hour candlesticks pushed trading volume from $240 million to $270 million, lifting the price from 0.096 to 0.131, before it retreated on reduced volume back to around 0.10. There are claims that the driver was an announcement issued earlier: old news attracts new money. However, that explanation has yet to be verified.
So now, the bull-bear split may be more illusion than reality. The real dispute is this: with more than 60% of positions held by bulls and funding rates near zero, are the chips essentially locked up—or is it simply that nobody is willing to take the next hand?
Multiple market discussions mention the same set of figures: the bulls’ share is around 64% to 65%, while the corresponding open position size is described as having shrunk by 3 to 7 percentage points. Bulls are numerous, but the money backing the bets is less.
Funding rates are also repeatedly cited, hovering near zero to 0.01%. At this level, it suggests the bulls are unwilling to pay more to carry positions, and the bears aren’t rushing to strike either. Both sides are waiting for the other to make the first mistake.
The backdrop is that late-September move: according to public discussions, three consecutive four-hour candlesticks pushed trading volume from $240 million to $270 million, lifting the price from 0.096 to 0.131, before it retreated on reduced volume back to around 0.10. There are claims that the driver was an announcement issued earlier: old news attracts new money. However, that explanation has yet to be verified.
So now, the bull-bear split may be more illusion than reality. The real dispute is this: with more than 60% of positions held by bulls and funding rates near zero, are the chips essentially locked up—or is it simply that nobody is willing to take the next hand?