$ETH Funding rate: -0.0042%, negative. The meaning is pretty clear: short sellers are paying more than long buyers, but the long/short account ratio is 2.85, with retail accounts overwhelmingly long. Open interest is down 0.9% over 24 hours, and the taker buy/sell ratio is 0.79, with sell orders weighing on buy orders.
On one hand, accounts are crowded into longs; on the other, the funding rate is inverted. These signals conflict, so I’m staying neutral. Price is at 2513, up and down just 50 over 24 hours, with 0.5% volatility. Trading volume is 370M, and the past hour’s volume was only 0.2 times the average—there’s no volume.
If it breaks below 2479, I’ll admit I was wrong. If it gets above 2530, then we’ll talk.
#ETH #BinanceSquare #Crypto
On one hand, accounts are crowded into longs; on the other, the funding rate is inverted. These signals conflict, so I’m staying neutral. Price is at 2513, up and down just 50 over 24 hours, with 0.5% volatility. Trading volume is 370M, and the past hour’s volume was only 0.2 times the average—there’s no volume.
If it breaks below 2479, I’ll admit I was wrong. If it gets above 2530, then we’ll talk.
#ETH #BinanceSquare #Crypto