CC's Binance funding rate was slightly negative at about 0.0085%, while roughly 65% of accounts were long. The price fell only about 2.0%, yet over the 24-hour window, about $47,600 in longs were liquidated versus just $61 in shorts—a gap of roughly 783x. Funding was bearish-leaning and accounts were long-leaning, but liquidation pressure fell almost entirely on the long side.
CC was trading at about $0.10067 on Binance (-1.9860%) and $0.10074 on OKX (-1.9180%). Over 24 hours, about $47,600 in longs and $61 in shorts were liquidated, totaling about $47,700 across 22 liquidations. Open interest was about $12.18 million on Binance and $2.63 million on OKX. The account long/short ratio was about 64.7% to 35.3%, and Binance's funding rate was about -0.0085%.
Positioning looks more tangled than price action alone: funding rates are discouraging longs, yet accounts remain tilted long, and liquidations have almost exclusively swept longs—leveraged long positions may explain this liquidation imbalance better than the funding signal.
Funding is negative and longs make up about 60%, yet the 24-hour liquidation imbalance is nearly 800x—is this more like a cascade of highly leveraged CC longs, or a position flush ahead of a funding-rate reversal?
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