$RLC funding rate: -0.101% (221.7% annualized); shorts pay.
The negative rate and its sizable magnitude indicate a buildup of leveraged short positions. When shorts become overcrowded, short covering can be triggered, so be cautious about chasing the short.
Combined with the 24h gain of +16.28%, sentiment is heating up. Do you think this is the beginning or the end?
The negative rate and its sizable magnitude indicate a buildup of leveraged short positions. When shorts become overcrowded, short covering can be triggered, so be cautious about chasing the short.
Combined with the 24h gain of +16.28%, sentiment is heating up. Do you think this is the beginning or the end?