Price rose 7.04% in the last complete 1-hour period, while OI fell 5.84%—a rise and deleveraging happening at the same time. Public Binance data at 03:36 (UTC) showed $Q perpetual trading at 0.102384 USDT, still up 55.78% over 24 hours, with trading volume of about 1.134 billion USDT.
Over the last 4 complete hours, the price rose 4.53%, and trading volume was 2.02 times that of the previous 4 hours. But quantity OI in the 30-point window has contracted by 44.10%. This shows that volatility and trading activity remain strong, but does not prove sustained demand from new longs; short covering may be one of the driving forces.
⚠️ The indicative Funding rate is around -0.2346%, while the most recent actual settlement was -0.2066%. Deeply negative Funding can increase the likelihood of a short squeeze, but may also reflect persistent market bets on further declines. On its own, it cannot determine direction.
First, I’ll watch to see whether the low of 0.118015 from the last complete 1-hour period can be reclaimed. Only a full 1-hour candle closing back above that level on higher volume, with OI stabilizing, would count as renewed confirmation for bulls. If the rebound comes on low volume and OI keeps falling, I’ll view it as continued high-volatility deleveraging, not a signal to chase the rally.
* NFA, DYOR
Over the last 4 complete hours, the price rose 4.53%, and trading volume was 2.02 times that of the previous 4 hours. But quantity OI in the 30-point window has contracted by 44.10%. This shows that volatility and trading activity remain strong, but does not prove sustained demand from new longs; short covering may be one of the driving forces.
⚠️ The indicative Funding rate is around -0.2346%, while the most recent actual settlement was -0.2066%. Deeply negative Funding can increase the likelihood of a short squeeze, but may also reflect persistent market bets on further declines. On its own, it cannot determine direction.
First, I’ll watch to see whether the low of 0.118015 from the last complete 1-hour period can be reclaimed. Only a full 1-hour candle closing back above that level on higher volume, with OI stabilizing, would count as renewed confirmation for bulls. If the rebound comes on low volume and OI keeps falling, I’ll view it as continued high-volatility deleveraging, not a signal to chase the rally.
* NFA, DYOR