$MINA funding rate: -0.327% (358.1% annualized), shorts pay.
The rate is negative and unusually extreme, indicating a buildup of leveraged short positions. When shorts become overly crowded, short covering can occur, so be cautious about chasing the downward move.
Combined with the 24h gain of +5.11%, sentiment appears overheated. Could the market turn soon?
Just my personal view; I may be wrong. Please use caution.
The rate is negative and unusually extreme, indicating a buildup of leveraged short positions. When shorts become overly crowded, short covering can occur, so be cautious about chasing the downward move.
Combined with the 24h gain of +5.11%, sentiment appears overheated. Could the market turn soon?
Just my personal view; I may be wrong. Please use caution.