GTC is still the standout on tonight’s funding-rate leaderboard: it’s currently around 0.231, up about 19% over 24 hours, with a high and low of roughly 0.264 and 0.189. The funding rate remains near extreme negative territory (latest around -0.67%, with some earlier periods plunging close to -1%), meaning shorts are paying longs. More importantly, open interest has climbed by over 40% in roughly half a day. With price rising, positions surging, and funding negative, the short-squeeze potential is still there. The account long/short ratio is roughly even, while larger traders are slightly net long. BR is also surging alongside negative funding, so it can serve as a comparison—don’t lump the positions together and charge in recklessly.
Price has already made a strong move, and it could chop around the short-term moving averages. The previous high overhead is around 0.26, while the area near 0.19 is today’s low and a key support level. Some people on X have mentioned the exchange-listing news and negative funding squeezing shorts, while also warning that “the easy part may be over.” I agree—don’t add leverage at the peak.
I’m cautiously bullish, but wouldn’t chase the price. Aggressive traders could wait for a pullback to 0.210–0.220 and try a small long position, with a stop below 0.188. More conservative traders could wait for a pullback and then enter after price reclaims 0.225, with a first target of 0.250 and a second target at the previous high of 0.264. If funding quickly converges back toward zero while price stalls, prioritize reducing the position—don’t stubbornly hold on based on emotion.
This is just my personal observation of the market, not investment advice. Manage your own position size and risk.
#GTC #BR
Price has already made a strong move, and it could chop around the short-term moving averages. The previous high overhead is around 0.26, while the area near 0.19 is today’s low and a key support level. Some people on X have mentioned the exchange-listing news and negative funding squeezing shorts, while also warning that “the easy part may be over.” I agree—don’t add leverage at the peak.
I’m cautiously bullish, but wouldn’t chase the price. Aggressive traders could wait for a pullback to 0.210–0.220 and try a small long position, with a stop below 0.188. More conservative traders could wait for a pullback and then enter after price reclaims 0.225, with a first target of 0.250 and a second target at the previous high of 0.264. If funding quickly converges back toward zero while price stalls, prioritize reducing the position—don’t stubbornly hold on based on emotion.
This is just my personal observation of the market, not investment advice. Manage your own position size and risk.
#GTC #BR