$HOT 0.0005211, up 22.70% in 24 hours.
A rally is nothing unusual; what’s really abnormal is the funding rate—all eight periods were negative.
Over four days, the price actually rose only 40%, while the number of open-interest contracts increased 2.4x.
All of the added positions were leveraged.
The 11-03 19:00 candle saw $54.28 million in volume, 59 times the median.
Within that one candle, the price was pushed from 0.0004611 all the way to 0.0005699, with almost no pullbacks along the way. But aggressive buyers accounted for only 51.4% of the volume in that same candle; the rest was selling.
The two sides were nearly evenly matched.
On the same day, $BTC was down 0.44%—it was the only one moving.
The 0.0005597 level above is this morning’s high; the price hasn’t reclaimed it.
The 0.0005004 level below is the low of the overnight candle, the last place price touched before taking off.
Hold above 0.0005597, and watch for 0.0005980.
Break below 0.0005004, and step back to 0.0004611 and wait.
A rally built on leverage can pull back just as fast.
Keep an eye on 0.0005004, and don’t chase before the funding rate turns positive.
Do you still hold HOT? What’s your entry price?
https://www.binance.com/zh-CN/futures/HOTUSDT
A rally is nothing unusual; what’s really abnormal is the funding rate—all eight periods were negative.
Over four days, the price actually rose only 40%, while the number of open-interest contracts increased 2.4x.
All of the added positions were leveraged.
The 11-03 19:00 candle saw $54.28 million in volume, 59 times the median.
Within that one candle, the price was pushed from 0.0004611 all the way to 0.0005699, with almost no pullbacks along the way. But aggressive buyers accounted for only 51.4% of the volume in that same candle; the rest was selling.
The two sides were nearly evenly matched.
On the same day, $BTC was down 0.44%—it was the only one moving.
The 0.0005597 level above is this morning’s high; the price hasn’t reclaimed it.
The 0.0005004 level below is the low of the overnight candle, the last place price touched before taking off.
Hold above 0.0005597, and watch for 0.0005980.
Break below 0.0005004, and step back to 0.0004611 and wait.
A rally built on leverage can pull back just as fast.
Keep an eye on 0.0005004, and don’t chase before the funding rate turns positive.
Do you still hold HOT? What’s your entry price?
https://www.binance.com/zh-CN/futures/HOTUSDT
