The veteran payment coin didn’t escape today’s synchronized position cuts either.
Spot is down about 7.6% on the day, hovering around 267, with just over $150 million in futures volume. The account long/short ratio is at 2.0, rising to 2.58 among top traders—the crowd is still leaning long, but price is already softening. Funding is near zero, and open interest has barely moved over the past hour. With a macro event coming up and longs looking crowded, I’d rather first get a clear picture of the asymmetry on the leverage side. Don’t mistake a bounce for a trend.
$BCH
#US stocks weaken, putting broad pressure on the crypto market
Spot is down about 7.6% on the day, hovering around 267, with just over $150 million in futures volume. The account long/short ratio is at 2.0, rising to 2.58 among top traders—the crowd is still leaning long, but price is already softening. Funding is near zero, and open interest has barely moved over the past hour. With a macro event coming up and longs looking crowded, I’d rather first get a clear picture of the asymmetry on the leverage side. Don’t mistake a bounce for a trend.
$BCH
#US stocks weaken, putting broad pressure on the crypto market
