Leverage is cooling off, and Cat Bro spent the night watching funding rates 🐱
📉 BTC perpetual funding rate (OI-weighted, annualized): around +4.0% on 10-12 → +8.6% on the evening of 10-17 → +1.8% on the morning of 10-18 (DeFi Rate)
📊 Another reading: OI-weighted 8h rate +0.0057%, about 6.22% annualized; longs account for 52%; open interest is around $52.1 billion (CoinPerps)
🔍 24h liquidations totaled just $28.84 million, a lot calmer than the $813 million on 10-13
👉 Cat Bro's take: Rates have returned to low levels, suggesting longs aren't rushing to add leverage, and there's no fuel for a short squeeze either. This kind of “boring” market is often building up before choosing a direction—or it could keep grinding sideways. Key levels to watch: $80K/$83K.
Don't mistake low funding rates for a bullish signal; they only indicate that the market is less crowded. Do you think the next move will be up, or will we keep going sideways? Let's chat in the comments 👇
$BTC $ETH
#资金费率 #合约数据 #On-chain data
Personal opinions only; not investment advice
📉 BTC perpetual funding rate (OI-weighted, annualized): around +4.0% on 10-12 → +8.6% on the evening of 10-17 → +1.8% on the morning of 10-18 (DeFi Rate)
📊 Another reading: OI-weighted 8h rate +0.0057%, about 6.22% annualized; longs account for 52%; open interest is around $52.1 billion (CoinPerps)
🔍 24h liquidations totaled just $28.84 million, a lot calmer than the $813 million on 10-13
👉 Cat Bro's take: Rates have returned to low levels, suggesting longs aren't rushing to add leverage, and there's no fuel for a short squeeze either. This kind of “boring” market is often building up before choosing a direction—or it could keep grinding sideways. Key levels to watch: $80K/$83K.
Don't mistake low funding rates for a bullish signal; they only indicate that the market is less crowded. Do you think the next move will be up, or will we keep going sideways? Let's chat in the comments 👇
$BTC $ETH
#资金费率 #合约数据 #On-chain data
Personal opinions only; not investment advice