Overnight, ETH plunged 4% and shorts are paying funding. I’ll make a note of that confidence
Everything turned red overnight: BTC -2.44% at 73345, ETH -4.08% at 2043, XRP -4.81%, and even BNB slipped 1.86%. The group chat is full of wailing, and liquidation screenshots are flying everywhere. Good. The sentiment is right where we want it.
But the data tells a different story.
ETH funding is -0.006%. The price dropped 4%, yet shorts still have to pay to maintain their positions. That’s not short strength—that’s a crowded short trade. The market’s favorite move is to take out the most confident traders first. Meanwhile, BTC funding remains positive at +0.0089%; longs haven’t surrendered at all.
BTC’s overnight low was 72691. It bounced before even touching the daily buy level at 72498, with trading volume of 12.41B. A quiet, unnoticed drift lower doesn’t come with this kind of volume. This is real money changing hands. The more thorough the turnover, the firmer the base.
Direction: the data leans bullish. Three reasons:
1. ETH funding has turned negative, with leveraged shorts piling in—the fuel for a squeeze is in place.
2. BTC retested 72691 and held above the daily buy level at 72498. This support has been tested; it’s not just drawn on a chart.
3. The whole market is wailing, yet the price is moving farther and farther away from the lows—fear and price are diverging. It’s an old formula.
Today’s script: BTC first reclaims the daily pivot at 73954, then challenges the daily sell level at 75218 once it holds. ETH needs to hold the daily buy level at 1991; the first target is 2063, then 2124. XRP is down 4.81% today at 1.0495, with absurdly high volatility. If you’re faint-hearted, stay away.
The risk is plain to see: if BTC breaks below 72498 on heavy volume, that long lower wick at 72691 becomes a trap, and ETH’s 1991 won’t hold for long either. At that point, the bullish narrative is invalidated on the spot. Don’t talk to me about faith.
I won’t chant slogans. The levels are right here. Fear is yours to deal with.
$BTC Daily sell level: $75219 Daily buy level: $72499
$ETH Daily sell level: $2124.21 Daily buy level: $1991.88
$BNB Daily sell level: $692.67 Daily buy level: $669.77
$BTC #BTC $ETH #ETH
Everything turned red overnight: BTC -2.44% at 73345, ETH -4.08% at 2043, XRP -4.81%, and even BNB slipped 1.86%. The group chat is full of wailing, and liquidation screenshots are flying everywhere. Good. The sentiment is right where we want it.
But the data tells a different story.
ETH funding is -0.006%. The price dropped 4%, yet shorts still have to pay to maintain their positions. That’s not short strength—that’s a crowded short trade. The market’s favorite move is to take out the most confident traders first. Meanwhile, BTC funding remains positive at +0.0089%; longs haven’t surrendered at all.
BTC’s overnight low was 72691. It bounced before even touching the daily buy level at 72498, with trading volume of 12.41B. A quiet, unnoticed drift lower doesn’t come with this kind of volume. This is real money changing hands. The more thorough the turnover, the firmer the base.
Direction: the data leans bullish. Three reasons:
1. ETH funding has turned negative, with leveraged shorts piling in—the fuel for a squeeze is in place.
2. BTC retested 72691 and held above the daily buy level at 72498. This support has been tested; it’s not just drawn on a chart.
3. The whole market is wailing, yet the price is moving farther and farther away from the lows—fear and price are diverging. It’s an old formula.
Today’s script: BTC first reclaims the daily pivot at 73954, then challenges the daily sell level at 75218 once it holds. ETH needs to hold the daily buy level at 1991; the first target is 2063, then 2124. XRP is down 4.81% today at 1.0495, with absurdly high volatility. If you’re faint-hearted, stay away.
The risk is plain to see: if BTC breaks below 72498 on heavy volume, that long lower wick at 72691 becomes a trap, and ETH’s 1991 won’t hold for long either. At that point, the bullish narrative is invalidated on the spot. Don’t talk to me about faith.
I won’t chant slogans. The levels are right here. Fear is yours to deal with.
$BTC Daily sell level: $75219 Daily buy level: $72499
$ETH Daily sell level: $2124.21 Daily buy level: $1991.88
$BNB Daily sell level: $692.67 Daily buy level: $669.77
$BTC #BTC $ETH #ETH