$BR has posted another higher hourly close, but after trading volume increased, the gain actually narrowed. For now, I see this as a continuing rebound that is beginning to lose momentum, and I’m still not chasing the latest spike. The next things to establish are whether the old high can turn into support, and whether the higher trading volume can still produce a higher close.
At 01:02 Beijing time on October 19, Binance BRUSDT perpetual was around 0.44417, up 19.42% over the rolling 24 hours and ranked second among the 523 eligible USDT perpetual contracts fully retrieved. BR here refers to Bedrock. The ranking offers a lead for research; it does not by itself prove that the rebound has further room to run.
The price move began on the evening of the 18th: it fell 1.12% from 21:00 to 22:00, rebounded 1.66% from 22:00 to 23:00, then rose 5.72% from 23:00 to 00:00, closing at 0.42971 and clearing the previous hour’s high of 0.41538. From 00:00 to 01:00 on the 19th, it rose another 2.99%, closing at 0.44261 after reaching a high of 0.44641. The highs, lows, and closes were all higher for two consecutive hours, so the rebound did make further progress.
However, the latest hour did not hold above the previous high of 0.43124 throughout: the low fell back to 0.42477 before the price recovered and closed above the old high. So what we can confirm for now is a close above that level; whether it can hold there for a full hour will depend on what happens next. Looking only at the high of 0.44641 could obscure the indecision behind the pullback.
I’m more focused on the change in volume and the size of the price advance. Trading volume rose from about 5.3942 million USDT between 23:00 and 00:00 to 10.1713 million between 00:00 and 01:00, an increase of 88.56%, while the gain narrowed from 5.72% to 2.99%. The share of taker buy volume also fell from 51.54% to 48.50%. Volume increased and the price still rose, but each stretch of trading produced a smaller move. That warrants less eagerness to chase the price, but it is not enough to conclude that the rebound is over.
The four-hour picture is somewhat clearer. From 16:00 to 20:00 on the 18th, the price fell 2.28%; from 20:00 to 00:00, it turned around and rose 6.35%, with trading volume of about 14.5411 million USDT, up 13.70% from the preceding period. A recovery after the earlier decline is already evident, but the four-hour period from 00:00 to 04:00 on the 19th, which includes the latest hour, is not yet complete, so we cannot draw the same conclusion about that four-hour period in advance.
The funding rate settled at 00:00 was -0.055843%, less negative than the -0.102863% reading at 20:00. A negative funding rate alone does not prove that short positions are being squeezed out. At the time of research, the historical OI endpoint had not yet returned the 01:00 data point, so the roughly 5.87% increase in open interest from 23:00 to 00:00 cannot be attributed to the 00:00–01:00 period. For now, we’ll leave open the question of whether the latest rise came with an increase or decrease in open interest.
I haven’t found any recent announcement that would independently explain this move, so I’m not treating older listing information as a catalyst from that evening. Next, I’ll watch whether the price can hold around 0.43124 on a pullback. If it breaks below 0.42477 and cannot recover, the structure of higher lows over the past hour will need to be reassessed. If a pullback is followed by renewed buying volume and a full hourly candle closes above 0.44641, I’ll raise my assessment of the rebound’s staying power. What matters is how much of the move holds, not how high the price briefly spiked intraday.
At 01:02 Beijing time on October 19, Binance BRUSDT perpetual was around 0.44417, up 19.42% over the rolling 24 hours and ranked second among the 523 eligible USDT perpetual contracts fully retrieved. BR here refers to Bedrock. The ranking offers a lead for research; it does not by itself prove that the rebound has further room to run.
The price move began on the evening of the 18th: it fell 1.12% from 21:00 to 22:00, rebounded 1.66% from 22:00 to 23:00, then rose 5.72% from 23:00 to 00:00, closing at 0.42971 and clearing the previous hour’s high of 0.41538. From 00:00 to 01:00 on the 19th, it rose another 2.99%, closing at 0.44261 after reaching a high of 0.44641. The highs, lows, and closes were all higher for two consecutive hours, so the rebound did make further progress.
However, the latest hour did not hold above the previous high of 0.43124 throughout: the low fell back to 0.42477 before the price recovered and closed above the old high. So what we can confirm for now is a close above that level; whether it can hold there for a full hour will depend on what happens next. Looking only at the high of 0.44641 could obscure the indecision behind the pullback.
I’m more focused on the change in volume and the size of the price advance. Trading volume rose from about 5.3942 million USDT between 23:00 and 00:00 to 10.1713 million between 00:00 and 01:00, an increase of 88.56%, while the gain narrowed from 5.72% to 2.99%. The share of taker buy volume also fell from 51.54% to 48.50%. Volume increased and the price still rose, but each stretch of trading produced a smaller move. That warrants less eagerness to chase the price, but it is not enough to conclude that the rebound is over.
The four-hour picture is somewhat clearer. From 16:00 to 20:00 on the 18th, the price fell 2.28%; from 20:00 to 00:00, it turned around and rose 6.35%, with trading volume of about 14.5411 million USDT, up 13.70% from the preceding period. A recovery after the earlier decline is already evident, but the four-hour period from 00:00 to 04:00 on the 19th, which includes the latest hour, is not yet complete, so we cannot draw the same conclusion about that four-hour period in advance.
The funding rate settled at 00:00 was -0.055843%, less negative than the -0.102863% reading at 20:00. A negative funding rate alone does not prove that short positions are being squeezed out. At the time of research, the historical OI endpoint had not yet returned the 01:00 data point, so the roughly 5.87% increase in open interest from 23:00 to 00:00 cannot be attributed to the 00:00–01:00 period. For now, we’ll leave open the question of whether the latest rise came with an increase or decrease in open interest.
I haven’t found any recent announcement that would independently explain this move, so I’m not treating older listing information as a catalyst from that evening. Next, I’ll watch whether the price can hold around 0.43124 on a pullback. If it breaks below 0.42477 and cannot recover, the structure of higher lows over the past hour will need to be reassessed. If a pullback is followed by renewed buying volume and a full hourly candle closes above 0.44641, I’ll raise my assessment of the rebound’s staying power. What matters is how much of the move holds, not how high the price briefly spiked intraday.