Goldfish, I was just about to say nobody was backing BTC, then a five-level buy wall smacked me in the face.
$BTC Binance: about 623k in buys vs. 21k in sells, a ratio of about 29; price is 82,586, up 0.7% on the day and 0.7% below the high.
OKX long funding is capped at 0.01%; HL open interest is about 3.30bn / 2.40bn for the day, a density of 1.4.
The thicker the support, the higher the funding cost—I’m betting on a support battle. If the buy wall collapses back to 2x, this thesis is invalidated.
#BTC盘口 #PerpetualFundingRate
$BTC Binance: about 623k in buys vs. 21k in sells, a ratio of about 29; price is 82,586, up 0.7% on the day and 0.7% below the high.
OKX long funding is capped at 0.01%; HL open interest is about 3.30bn / 2.40bn for the day, a density of 1.4.
The thicker the support, the higher the funding cost—I’m betting on a support battle. If the buy wall collapses back to 2x, this thesis is invalidated.
#BTC盘口 #PerpetualFundingRate