$BAT up 13.1%, but funding rate turns negative
Up 13.1%, funding rate turns negative.
BAT is currently at 0.18184 USDT, +13.1% over 24h, with $86.3M in trading volume and a market cap of $276.0M.
Open interest +14.9%: 10.0M → 11.3M → 9.9M → 11.5M. The price pulled back, but positions increased instead.
The funding rate plunged from +0.0003% to -0.0018%. Shorts are in the lead—but the cost of holding short positions is climbing.
On November 11, BAT Community Call. Ten news items are making the rounds. News came first, the funding rate turned negative next, and OI expanded afterward.
Not enough traders are chasing longs; the shorts got there first. Negative funding at these low levels will gradually eat into shorts—short covering may follow, but it’s not guaranteed.
The direction is unclear. Wait for funding to turn positive again, or for OI to confirm the move.
Risk warning: Negative funding doesn’t mean the price has bottomed. Leverage magnifies costs, not conviction.
#BAT #币安 #Bitcoin
Up 13.1%, funding rate turns negative.
BAT is currently at 0.18184 USDT, +13.1% over 24h, with $86.3M in trading volume and a market cap of $276.0M.
Open interest +14.9%: 10.0M → 11.3M → 9.9M → 11.5M. The price pulled back, but positions increased instead.
The funding rate plunged from +0.0003% to -0.0018%. Shorts are in the lead—but the cost of holding short positions is climbing.
On November 11, BAT Community Call. Ten news items are making the rounds. News came first, the funding rate turned negative next, and OI expanded afterward.
Not enough traders are chasing longs; the shorts got there first. Negative funding at these low levels will gradually eat into shorts—short covering may follow, but it’s not guaranteed.
The direction is unclear. Wait for funding to turn positive again, or for OI to confirm the move.
Risk warning: Negative funding doesn’t mean the price has bottomed. Leverage magnifies costs, not conviction.
#BAT #币安 #Bitcoin