Down 3.49% and still paying a positive funding rate—BTC bulls are paying the bears’ wages
A pre-close recap for those still awake.
BTC slid steadily all day from 81953 to a low of 76444. It’s now at 77338, down 3.485%, with $25.98 billion in trading volume. A selloff on rising volume isn’t a shakeout; it’s coins changing hands.
The most ironic part: even after a drop like this, BTC’s funding rate is still positive at +0.009455%. In other words, bulls trapped at the top are still paying by the hour to keep the faith. The old saying “the downtrend won’t end until the bulls are wiped out” has proved half right again today.
The details are even more interesting. The daily-chart buy level at 76569 was pierced once during the day. The low was 76444, just $125 below, before price was pulled back above 76569. A false breakdown or a pause before another leg down? The overnight session will tell: if 76569 holds, the first rebound target is the daily pivot at 79261; if it fails, 76444 isn’t the bottom—it’s just a gas station.
ETH’s drop was even harsher: down 3.834%, with a single bearish candle taking it from 2378 to 2172. But there’s an unusual signal: ETH’s funding rate has already turned negative at -0.002821%, meaning bears are starting to pay for the privilege of being short. Chasing the drop from here offers even worse risk-reward than chasing the rally this morning. Watch 2195 as ETH’s key level; until it recovers 2287, any rebound is just a chance to catch its breath after falling.
BNB fell 5.456%, the biggest drop of the bunch, clinging to the 700 level. XRP fell 3.493%, with 1.2 as its last shred of cover.
Overnight outlook in one sentence: bearish, but don’t reach in below 76569. Wait for a rebound toward 79261 to meet resistance, then reassess the chance of a second test of the lows. That’s a lot more dignified than catching a falling knife right now. Those who are always trying to catch the very lowest wick usually get pricked first.
$BTC Daily sell level: $80655 Daily buy level: $76569
$ETH Daily sell level: $2343.95 Daily buy level: $2195.46
$BNB Daily sell level: $746.9 Daily buy level: $663.39
$BTC #BTC $ETH #ETH
A pre-close recap for those still awake.
BTC slid steadily all day from 81953 to a low of 76444. It’s now at 77338, down 3.485%, with $25.98 billion in trading volume. A selloff on rising volume isn’t a shakeout; it’s coins changing hands.
The most ironic part: even after a drop like this, BTC’s funding rate is still positive at +0.009455%. In other words, bulls trapped at the top are still paying by the hour to keep the faith. The old saying “the downtrend won’t end until the bulls are wiped out” has proved half right again today.
The details are even more interesting. The daily-chart buy level at 76569 was pierced once during the day. The low was 76444, just $125 below, before price was pulled back above 76569. A false breakdown or a pause before another leg down? The overnight session will tell: if 76569 holds, the first rebound target is the daily pivot at 79261; if it fails, 76444 isn’t the bottom—it’s just a gas station.
ETH’s drop was even harsher: down 3.834%, with a single bearish candle taking it from 2378 to 2172. But there’s an unusual signal: ETH’s funding rate has already turned negative at -0.002821%, meaning bears are starting to pay for the privilege of being short. Chasing the drop from here offers even worse risk-reward than chasing the rally this morning. Watch 2195 as ETH’s key level; until it recovers 2287, any rebound is just a chance to catch its breath after falling.
BNB fell 5.456%, the biggest drop of the bunch, clinging to the 700 level. XRP fell 3.493%, with 1.2 as its last shred of cover.
Overnight outlook in one sentence: bearish, but don’t reach in below 76569. Wait for a rebound toward 79261 to meet resistance, then reassess the chance of a second test of the lows. That’s a lot more dignified than catching a falling knife right now. Those who are always trying to catch the very lowest wick usually get pricked first.
$BTC Daily sell level: $80655 Daily buy level: $76569
$ETH Daily sell level: $2343.95 Daily buy level: $2195.46
$BNB Daily sell level: $746.9 Daily buy level: $663.39
$BTC #BTC $ETH #ETH