Down 7%, funding rates are still positive—the bulls forgot to line up to surrender
It’s midday. Let’s get unpleasant.
BTC is down 6.99% on the day, plunging from 73708.5 to 68552.7 and now flat on its back right by the 24-hour low of 68489.3. The daily buy point at 70272.97 was smashed through long ago, without even the courtesy of a retest for confirmation. A massive 16.51B USDT in trading volume—this isn’t a correction; it’s a reckoning.
The most ironic part is the funding rate. After a nearly 7% drop, BTC’s rate is still positive, and so is ETH’s. In other words: leveraged bulls still haven’t surrendered; they’re still borrowing money and waiting for a bounce. The market doesn’t do charity. Until the last stubborn bulls get out, a V-shaped reversal is a luxury.
ETH is in even worse shape at 1924.89. The daily buy point at 1979.2 is shattered, leaving only the thin layer at 1915.03 below. If that breaks, it’s uncharted territory. BNB isn’t looking any better: at 632.6, it’s hugging the intraday low of 630.27, while 643.44 has turned from support into a ceiling overhead.
The only top student in the class is XRP, down just 3.78%. Its low of 0.9963 dipped below $1 just long enough to check in, then bounced back to 1.0049. In a weak market, the asset that falls the least is often where the money is truly camped out. That detail is worth more than any slogan.
Let’s be clear about the direction: bearish signals are obvious. 68489.3 is the afternoon’s line between life and death; break below it, and a fresh leg down begins. To recover, first get back above 70272.97, then talk about 72232.33. Until funding turns negative and the bulls truly admit defeat, don’t rush to play the hero.
There’s no shame in being scared. The shame is carrying your own position on someone else’s slogans.
$BTC Daily sell point: $73383 Daily buy point: $70273
$ETH Daily sell point: $2062.21 Daily buy point: $1979.2
$BNB Daily sell point: $676.91 Daily buy point: $643.44
$BTC #BTC $ETH #ETH
It’s midday. Let’s get unpleasant.
BTC is down 6.99% on the day, plunging from 73708.5 to 68552.7 and now flat on its back right by the 24-hour low of 68489.3. The daily buy point at 70272.97 was smashed through long ago, without even the courtesy of a retest for confirmation. A massive 16.51B USDT in trading volume—this isn’t a correction; it’s a reckoning.
The most ironic part is the funding rate. After a nearly 7% drop, BTC’s rate is still positive, and so is ETH’s. In other words: leveraged bulls still haven’t surrendered; they’re still borrowing money and waiting for a bounce. The market doesn’t do charity. Until the last stubborn bulls get out, a V-shaped reversal is a luxury.
ETH is in even worse shape at 1924.89. The daily buy point at 1979.2 is shattered, leaving only the thin layer at 1915.03 below. If that breaks, it’s uncharted territory. BNB isn’t looking any better: at 632.6, it’s hugging the intraday low of 630.27, while 643.44 has turned from support into a ceiling overhead.
The only top student in the class is XRP, down just 3.78%. Its low of 0.9963 dipped below $1 just long enough to check in, then bounced back to 1.0049. In a weak market, the asset that falls the least is often where the money is truly camped out. That detail is worth more than any slogan.
Let’s be clear about the direction: bearish signals are obvious. 68489.3 is the afternoon’s line between life and death; break below it, and a fresh leg down begins. To recover, first get back above 70272.97, then talk about 72232.33. Until funding turns negative and the bulls truly admit defeat, don’t rush to play the hero.
There’s no shame in being scared. The shame is carrying your own position on someone else’s slogans.
$BTC Daily sell point: $73383 Daily buy point: $70273
$ETH Daily sell point: $2062.21 Daily buy point: $1979.2
$BNB Daily sell point: $676.91 Daily buy point: $643.44
$BTC #BTC $ETH #ETH