$IRYS funding rate: -0.0337% (295.2% annualized); shorts pay.
A negative rate of this magnitude suggests leveraged short positions are crowded. When shorts become overly crowded, it may trigger short covering, so think twice before chasing the downtrend.
With the 24-hour change at -16.48%, sentiment appears to be cooling. If it were you, would you act now or wait a little longer?
A negative rate of this magnitude suggests leveraged short positions are crowded. When shorts become overly crowded, it may trigger short covering, so think twice before chasing the downtrend.
With the 24-hour change at -16.48%, sentiment appears to be cooling. If it were you, would you act now or wait a little longer?
