Shorts, don’t laugh too soon.
$SCR is currently at 0.02614, up +5.1% over 24h. It’s going up.
First sign the bears may be wrong: the funding rate fell from +0.0024% to -0.0002%, turning negative. Shorts are starting to gain the upper hand. Second: OI is up 10.8% over the same period, following a path of 2.3M > 2.3M > 2.4M > 2.5M. Price is climbing, and positions are piling up too. Third: 24h trading volume is $11.0M, while market cap is only $12.4M—the market is tiny, yet trading is this active. Spot pairs are available, there are 10 news items, and the media are watching. Even “Binance postpones SCR listing” has been dug up and rehashed.
A negative funding rate doesn’t mean shorts have won. The longer it stays negative, the higher the cost of holding short positions—that’s shorts charging themselves extra rent.
The real oddity is this: price is rising, OI is rising, but the funding rate is falling. Shorts are adding positions at low levels, while longs aren’t leaving. If the funding rate turns positive again, short covering could hit the shorts themselves first.
Don’t chase shorts, and don’t buy the dip. First watch for the funding rate to turn around, then see whether OI keeps piling up or starts unwinding. Reduce leverage and wait for confirmation.
Risk warning: If negative funding persists, short-position costs can gradually eat through your margin. Don’t confuse getting the direction right with getting the position size right.
#SCR #币安 #Bitcoin
$SCR is currently at 0.02614, up +5.1% over 24h. It’s going up.
First sign the bears may be wrong: the funding rate fell from +0.0024% to -0.0002%, turning negative. Shorts are starting to gain the upper hand. Second: OI is up 10.8% over the same period, following a path of 2.3M > 2.3M > 2.4M > 2.5M. Price is climbing, and positions are piling up too. Third: 24h trading volume is $11.0M, while market cap is only $12.4M—the market is tiny, yet trading is this active. Spot pairs are available, there are 10 news items, and the media are watching. Even “Binance postpones SCR listing” has been dug up and rehashed.
A negative funding rate doesn’t mean shorts have won. The longer it stays negative, the higher the cost of holding short positions—that’s shorts charging themselves extra rent.
The real oddity is this: price is rising, OI is rising, but the funding rate is falling. Shorts are adding positions at low levels, while longs aren’t leaving. If the funding rate turns positive again, short covering could hit the shorts themselves first.
Don’t chase shorts, and don’t buy the dip. First watch for the funding rate to turn around, then see whether OI keeps piling up or starts unwinding. Reduce leverage and wait for confirmation.
Risk warning: If negative funding persists, short-position costs can gradually eat through your margin. Don’t confuse getting the direction right with getting the position size right.
#SCR #币安 #Bitcoin