Longs are still holding on, while shorts are cashing out: Who’s telling the truth in tonight’s data?
The most interesting thing tonight isn’t the price—it’s the funding rates. Three exchanges are telling three completely different stories.
$BTC is now at $64,776, down 3.29% over 24 hours; $ETH 1,802 dollars, down 4.87%. The Fear & Greed Index is still at 10—extreme fear—and it’s been stuck there for several days. The price is falling and sentiment is freezing; we already know that. The interesting question is what traders are doing with their positions.
On Binance, 73.1% of accounts are still long, with a long/short ratio of 2.72. Even among large traders, 64.9% are long. Going by these numbers, the longs haven’t run at all—they’re still holding on.
But money doesn’t lie—it just tells half the truth. The BTC funding rate across the market is now only +0.0039%/8 hours, or about 4.2% annualized—less than half the 30-day average of +0.0079%. The longs are still there, but nobody’s willing to pay much to keep them alive. What stings even more is OKX, where the rate has turned negative at -0.0035%: shorts are paying longs.
Over the past 24 hours, $690 million in BTC positions were liquidated, 91% of them longs. Those who are holding on are being carried out, one position at a time.
Then again, Hyperliquid is a different world: the long/short ratio is 12 to 88, with 88% shorts. At the same time, Binance has over 70% longs, while Hyperliquid has nearly 90% shorts—both sides think they’re right, and both are paying the other side.
Here’s how I look at funding rates: don’t just look at one exchange’s numbers—compare them first. When all three exchanges move in the same direction, that’s consensus; when they diverge, there’s disagreement. When there’s disagreement, either direction is plausible, and rushing to pick a side is the easiest way to get hit from both directions.
I have just three takeaways: First, the longs aren’t dead—73% of traders are still in the game. Second, nobody’s adding money; shrinking funding rates show that the willingness to keep positions alive is cooling. Third, wait for funding rates to align again before making a directional call. A grinding sideways market wears you down more than a one-way move.
A quick look at the meme coin market: WANTED, fifth on DexScreener’s trending list, has been live for just 7 hours, yet its 24-hour gain is already showing as 3,486%, with 11,576 holders. It looks lively. But its liquidity is only $83,000, against a market cap of $1.3 million—whether you’re swimming or diving into a pool like that is for you to judge.
⚠️ The meme coin sector is extremely risky. The above is not investment advice. DYOR!
Which side are you on: Binance’s 73% longs, or Hyperliquid’s 88% shorts? Let’s talk in the comments. Follow me, and I’ll be back at the same time tomorrow to watch the market with you.
Data source: Binance Skills Hub. For reference only; this is not investment advice.
#比特幣 #資金費率 #BinanceSquare
The most interesting thing tonight isn’t the price—it’s the funding rates. Three exchanges are telling three completely different stories.
$BTC is now at $64,776, down 3.29% over 24 hours; $ETH 1,802 dollars, down 4.87%. The Fear & Greed Index is still at 10—extreme fear—and it’s been stuck there for several days. The price is falling and sentiment is freezing; we already know that. The interesting question is what traders are doing with their positions.
On Binance, 73.1% of accounts are still long, with a long/short ratio of 2.72. Even among large traders, 64.9% are long. Going by these numbers, the longs haven’t run at all—they’re still holding on.
But money doesn’t lie—it just tells half the truth. The BTC funding rate across the market is now only +0.0039%/8 hours, or about 4.2% annualized—less than half the 30-day average of +0.0079%. The longs are still there, but nobody’s willing to pay much to keep them alive. What stings even more is OKX, where the rate has turned negative at -0.0035%: shorts are paying longs.
Over the past 24 hours, $690 million in BTC positions were liquidated, 91% of them longs. Those who are holding on are being carried out, one position at a time.
Then again, Hyperliquid is a different world: the long/short ratio is 12 to 88, with 88% shorts. At the same time, Binance has over 70% longs, while Hyperliquid has nearly 90% shorts—both sides think they’re right, and both are paying the other side.
Here’s how I look at funding rates: don’t just look at one exchange’s numbers—compare them first. When all three exchanges move in the same direction, that’s consensus; when they diverge, there’s disagreement. When there’s disagreement, either direction is plausible, and rushing to pick a side is the easiest way to get hit from both directions.
I have just three takeaways: First, the longs aren’t dead—73% of traders are still in the game. Second, nobody’s adding money; shrinking funding rates show that the willingness to keep positions alive is cooling. Third, wait for funding rates to align again before making a directional call. A grinding sideways market wears you down more than a one-way move.
A quick look at the meme coin market: WANTED, fifth on DexScreener’s trending list, has been live for just 7 hours, yet its 24-hour gain is already showing as 3,486%, with 11,576 holders. It looks lively. But its liquidity is only $83,000, against a market cap of $1.3 million—whether you’re swimming or diving into a pool like that is for you to judge.
⚠️ The meme coin sector is extremely risky. The above is not investment advice. DYOR!
Which side are you on: Binance’s 73% longs, or Hyperliquid’s 88% shorts? Let’s talk in the comments. Follow me, and I’ll be back at the same time tomorrow to watch the market with you.
Data source: Binance Skills Hub. For reference only; this is not investment advice.
#比特幣 #資金費率 #BinanceSquare