$BTC 🌙 BTC 82.8K Early Morning Tug-of-War: Weekend Thin Market + 10.10 Liquidation Anniversary, One Spike Can Shake Out Many
Why is it easy to explode in the early morning:
US stock/ETF markets are closed, order book is thin, a few hundred BTC market orders can sweep out 200–300 USD spikes
Leverage not fully cleared: CryptoQuant estimates leverage ratio around 0.25, OI shrank from 154 billion USD to 142 billion USD, but there are still many long position traps around 75K
Funding rate near 0/slightly positive (Deribit annualized 7.1%, far below last year's 26.9% before 10.10) → Not wildly bullish, it's "no one dares to move first"
Why is it easy to explode in the early morning:
US stock/ETF markets are closed, order book is thin, a few hundred BTC market orders can sweep out 200–300 USD spikes
Leverage not fully cleared: CryptoQuant estimates leverage ratio around 0.25, OI shrank from 154 billion USD to 142 billion USD, but there are still many long position traps around 75K
Funding rate near 0/slightly positive (Deribit annualized 7.1%, far below last year's 26.9% before 10.10) → Not wildly bullish, it's "no one dares to move first"