Some people are always in a hurry to call the top during a rally, but this time they haven’t even figured out the other side’s hand.
KAIA’s funding rate has been hammered down to -0.14%, meaning shorts are paying longs interest. Even more unusual are the leverage metrics: contract open interest hasn’t shrunk—instead, it’s surged from around 40 million tokens to over 200 million, with a total value topping $10 million.
This isn’t longs running out of steam. It’s short sellers backing themselves into a corner. With 200 million tokens’ worth of positions stacked in the market, as long as spot prices hold even a little, the other side will be forced to pay funding every few hours.
In this setup, going short is simply handing someone fuel. Since someone else is carrying the load and paying the interest for you, the clearest move right now is to hold spot and wait for the fuel tank to ignite.
#以太坊突破2500USDT #KAIA $KAIA
#MAGIC $MAGIC
👇
KAIA’s funding rate has been hammered down to -0.14%, meaning shorts are paying longs interest. Even more unusual are the leverage metrics: contract open interest hasn’t shrunk—instead, it’s surged from around 40 million tokens to over 200 million, with a total value topping $10 million.
This isn’t longs running out of steam. It’s short sellers backing themselves into a corner. With 200 million tokens’ worth of positions stacked in the market, as long as spot prices hold even a little, the other side will be forced to pay funding every few hours.
In this setup, going short is simply handing someone fuel. Since someone else is carrying the load and paying the interest for you, the clearest move right now is to hold spot and wait for the fuel tank to ignite.
#以太坊突破2500USDT #KAIA $KAIA
#MAGIC $MAGIC
👇