$GTC 24 hours on the books: +58.7%, but nearly all of the move happened in the last four hours. This four-hour candle opened at 0.168, dipped to 0.164, then climbed all the way to 0.393, gaining a net 72.1%. But the rally failed to hold: the final hour was down 6.46%, and the current price has fallen back to 0.28921 USDT—about 26% off the candle’s high. 24-hour trading volume is about 14.41 million USDT.
The cost side, though, hasn’t budged at all. The price rewrote the chart over those four hours, while the funding rate stayed at -2.00%, firmly and significantly in negative territory, without moving toward neutral even once.
The next two levels will test this read: reclaim and hold above the four-hour high of 0.393, and the rally could be ready to take another leg higher; break below the four-hour low of 0.164, and the pullback could extend further. The next funding-rate settlement is at 00:00 Taipei time: a clear move toward zero would signal that the cost side is easing; if it remains negative, the two sides are still moving independently.
One caveat: a market that has moved more than 70% in four hours is naturally highly volatile, and this pullback may simply be giving back part of the earlier move. The direction has not been decisively established yet.
#MarketHotSpot
The cost side, though, hasn’t budged at all. The price rewrote the chart over those four hours, while the funding rate stayed at -2.00%, firmly and significantly in negative territory, without moving toward neutral even once.
The next two levels will test this read: reclaim and hold above the four-hour high of 0.393, and the rally could be ready to take another leg higher; break below the four-hour low of 0.164, and the pullback could extend further. The next funding-rate settlement is at 00:00 Taipei time: a clear move toward zero would signal that the cost side is easing; if it remains negative, the two sides are still moving independently.
One caveat: a market that has moved more than 70% in four hours is naturally highly volatile, and this pullback may simply be giving back part of the earlier move. The direction has not been decisively established yet.
#MarketHotSpot