$QNT 24h drops 20.083%, funding rate -0.0885%. Shorts have to pay longs every hour, yet the price is kept down at 233.33!
The buy/sell imbalance is 0.838 in the past 1 hour—sellers have the upper hand in taking orders. Open interest is 40.157 million, down 0.94%. This looks like longs are exiting rather than new shorts are driving the sell-off. Trading volume is only 0.6x the 24h hourly average—no volume expansion.
A negative funding rate only indicates that shorts are crowded; it doesn’t mean the price will bounce. Only when it reclaims above 236.74 can we say longs have taken back control. If it breaks below the 24h low of 222.7, the weakness should continue.
#QNT
The buy/sell imbalance is 0.838 in the past 1 hour—sellers have the upper hand in taking orders. Open interest is 40.157 million, down 0.94%. This looks like longs are exiting rather than new shorts are driving the sell-off. Trading volume is only 0.6x the 24h hourly average—no volume expansion.
A negative funding rate only indicates that shorts are crowded; it doesn’t mean the price will bounce. Only when it reclaims above 236.74 can we say longs have taken back control. If it breaks below the 24h low of 222.7, the weakness should continue.
#QNT
