Shorts have been paying out of pocket these past two days, but the market keeps moving up.
$BTW There’s no spot market for it on Binance; trading is all in futures.
The current price is around 1.18, up about 16% in a day.
It climbed from 0.95 to 1.35, and has now pulled back from the high.
Trading volume is around 73.2 million U.
Funding rates have stayed negative. In yesterday’s midday interval,
shorts had to pay about 0.18% every 4 hours,
and the latest rate is still around -0.03%.
Accounts are already skewed short, with longs at about 43%.
The number of contracts held has barely changed,
while the notional value rose from around 14.26 million to 17.23 million U.
I couldn’t find any new official announcements today.
For now, I’m treating this as a funding-rate play, not tying it to a new narrative.
$BTW #Bitway #Funding Rate
Personal opinion only; not investment advice
$BTW There’s no spot market for it on Binance; trading is all in futures.
The current price is around 1.18, up about 16% in a day.
It climbed from 0.95 to 1.35, and has now pulled back from the high.
Trading volume is around 73.2 million U.
Funding rates have stayed negative. In yesterday’s midday interval,
shorts had to pay about 0.18% every 4 hours,
and the latest rate is still around -0.03%.
Accounts are already skewed short, with longs at about 43%.
The number of contracts held has barely changed,
while the notional value rose from around 14.26 million to 17.23 million U.
I couldn’t find any new official announcements today.
For now, I’m treating this as a funding-rate play, not tying it to a new narrative.
$BTW #Bitway #Funding Rate
Personal opinion only; not investment advice