$BR The latest hourly candle still closed higher, but the gain came on more trading and was smaller. I’ll continue to watch how price is supported on pullbacks: the earlier 0.44641 level has already been reclaimed by a subsequent full hourly close. The key question now is whether buyers can support the price at these new highs.
At 06:06 Beijing time on October 19, Binance BRUSDT perpetual was around 0.54007, up 23.21% over the rolling 24 hours and ranked second among 523 eligible USDT perpetual contracts with complete data. Compared with the earlier report before 01:00, the new developments are continued advances after reclaiming the old high, the latest completed four-hour candle, and a change in the latest hourly volume-and-price rhythm.
A review should not focus only on the favorable stretch. Between 01:00 and 02:00, the low reached 0.42158, dipping below the 0.42477 level highlighted in the previous report, but the candle closed back at 0.43197. It then closed at 0.46548 between 02:00 and 03:00, and the lows of the next few completed hourly candles were also above the old high of 0.44641. The old level has been reclaimed, but the intervening dip also genuinely occurred; the entire move should not be described as a smooth rise.
Between 04:00 and 05:00, price rose from 0.45760 to close at 0.50283, a gain of 9.88%. Between 05:00 and 06:00, it rose again from 0.50283 to close at 0.53336, up 6.07%. The latter candle posted higher highs, lows, and close, so the move is still continuing. However, trading volume increased from 9.1527 million to 10.9636 million USDT, up 19.78%, while the price gain narrowed. The share of taker-initiated buy volume also fell from 53.06% to 48.19%. This points to a change in the efficiency of the advance, but is not enough to declare a reversal; nor should higher volume be treated as proof of net inflows.
Over the same period, open interest from 05:00 to 06:00 rose from 21.7472 million to 22.0181 million BR, an increase of 1.25%. The rise in price alongside higher open interest suggests the move was not driven solely by position closures during that hour. However, open interest alone cannot distinguish new longs from new shorts, or confirm which type of trader was in control.
The actual funding rate settled at 04:00 was -0.082418%, more negative than the -0.055843% recorded at midnight. This settlement generally means shorts pay longs, so holding costs are worth monitoring. It is not a guaranteed rate for the next settlement and cannot, on its own, prove that a short squeeze has occurred.
On the four-hour view, the 00:00–04:00 candle closed up 6.46%, with 29.4716 million USDT in volume, up 102.68% from the previous four-hour period. The acceleration over the latest two hours is part of the still-incomplete 04:00–08:00 window, so it should not be prematurely described as confirmation of a four-hour breakout. BR refers to Bedrock. I found no recent announcement that could independently explain this rise, so the assessment remains based on changes in price, volume, and open interest.
The first level to watch next is 0.51059. The 05:00–06:00 candle closed above the previous hour’s high at this level, but its low of 0.49736 remained below it. So it can only be said to have closed above the level, not held above it throughout. If a subsequent full hourly candle can stay above 0.51059, the next question is whether the move around 0.53997 improves. If price falls back below that level and fails to reclaim it at the close, the quality of the latest breakout should be reassessed. The 0.49736 level marks the lower boundary of the most recent hourly candle. Evidence that the rally is not over and reasons to keep chasing the price should still be considered separately.
At 06:06 Beijing time on October 19, Binance BRUSDT perpetual was around 0.54007, up 23.21% over the rolling 24 hours and ranked second among 523 eligible USDT perpetual contracts with complete data. Compared with the earlier report before 01:00, the new developments are continued advances after reclaiming the old high, the latest completed four-hour candle, and a change in the latest hourly volume-and-price rhythm.
A review should not focus only on the favorable stretch. Between 01:00 and 02:00, the low reached 0.42158, dipping below the 0.42477 level highlighted in the previous report, but the candle closed back at 0.43197. It then closed at 0.46548 between 02:00 and 03:00, and the lows of the next few completed hourly candles were also above the old high of 0.44641. The old level has been reclaimed, but the intervening dip also genuinely occurred; the entire move should not be described as a smooth rise.
Between 04:00 and 05:00, price rose from 0.45760 to close at 0.50283, a gain of 9.88%. Between 05:00 and 06:00, it rose again from 0.50283 to close at 0.53336, up 6.07%. The latter candle posted higher highs, lows, and close, so the move is still continuing. However, trading volume increased from 9.1527 million to 10.9636 million USDT, up 19.78%, while the price gain narrowed. The share of taker-initiated buy volume also fell from 53.06% to 48.19%. This points to a change in the efficiency of the advance, but is not enough to declare a reversal; nor should higher volume be treated as proof of net inflows.
Over the same period, open interest from 05:00 to 06:00 rose from 21.7472 million to 22.0181 million BR, an increase of 1.25%. The rise in price alongside higher open interest suggests the move was not driven solely by position closures during that hour. However, open interest alone cannot distinguish new longs from new shorts, or confirm which type of trader was in control.
The actual funding rate settled at 04:00 was -0.082418%, more negative than the -0.055843% recorded at midnight. This settlement generally means shorts pay longs, so holding costs are worth monitoring. It is not a guaranteed rate for the next settlement and cannot, on its own, prove that a short squeeze has occurred.
On the four-hour view, the 00:00–04:00 candle closed up 6.46%, with 29.4716 million USDT in volume, up 102.68% from the previous four-hour period. The acceleration over the latest two hours is part of the still-incomplete 04:00–08:00 window, so it should not be prematurely described as confirmation of a four-hour breakout. BR refers to Bedrock. I found no recent announcement that could independently explain this rise, so the assessment remains based on changes in price, volume, and open interest.
The first level to watch next is 0.51059. The 05:00–06:00 candle closed above the previous hour’s high at this level, but its low of 0.49736 remained below it. So it can only be said to have closed above the level, not held above it throughout. If a subsequent full hourly candle can stay above 0.51059, the next question is whether the move around 0.53997 improves. If price falls back below that level and fails to reclaim it at the close, the quality of the latest breakout should be reassessed. The 0.49736 level marks the lower boundary of the most recent hourly candle. Evidence that the rally is not over and reasons to keep chasing the price should still be considered separately.