$BTC red 2.8%, eth red 5.2%, eth getting hit harder which tells you where the leverage was sitting.
funding is negative on 13 of 21 coins we track, so shorts are paying to hold on a day the chart is finally paying them. that's a pile of people who got burned shorting the rally now scared to close.
crowd is still 60/40 long on these names. longs averaging down into a 2.8% red candle, that's the setup on 7 coins right now.
$W had $1.6M go onto exchanges today, 1.5% of its cap moved in one day. that's supply that can be sold showing up exactly when price is already weak.
watching if those 60% longs hold through another leg down or if this turns into forced unwinds. NFA
funding is negative on 13 of 21 coins we track, so shorts are paying to hold on a day the chart is finally paying them. that's a pile of people who got burned shorting the rally now scared to close.
crowd is still 60/40 long on these names. longs averaging down into a 2.8% red candle, that's the setup on 7 coins right now.
$W had $1.6M go onto exchanges today, 1.5% of its cap moved in one day. that's supply that can be sold showing up exactly when price is already weak.
watching if those 60% longs hold through another leg down or if this turns into forced unwinds. NFA