$PUMP
rose by approximately 16%, the funding rate turned negative, but the price is still less than 3% below the 24-hour high.
The spot price is around $0.006394, the 24-hour high is $0.006589, the low is $0.005422, the range is approximately 21.5%; trading volume is around $13.1 million.
Data shows that the notional value of open positions in perpetual contracts is around $46.16 million, the current funding rate is approximately -0.0024%, and the price of perpetual contracts is virtually equal to the spot price. As the price rises, long contract positions are not paying noticeably more, indicating the presence of counter-trend positions.
My view: this rally still has conditions for a position squeeze, but a negative funding rate does not guarantee continued growth. The most common mistake is buying into a rise when the price is close to the high; if the breakout fails, high leverage will amplify the pullback.
Next, it is worth watching the $0.006589 and $0.005777 levels. If the previous high is broken, the funding rate remains negative, and open positions are maintained, the risk of a squeeze may increase.
rose by approximately 16%, the funding rate turned negative, but the price is still less than 3% below the 24-hour high.
The spot price is around $0.006394, the 24-hour high is $0.006589, the low is $0.005422, the range is approximately 21.5%; trading volume is around $13.1 million.
Data shows that the notional value of open positions in perpetual contracts is around $46.16 million, the current funding rate is approximately -0.0024%, and the price of perpetual contracts is virtually equal to the spot price. As the price rises, long contract positions are not paying noticeably more, indicating the presence of counter-trend positions.
My view: this rally still has conditions for a position squeeze, but a negative funding rate does not guarantee continued growth. The most common mistake is buying into a rise when the price is close to the high; if the breakout fails, high leverage will amplify the pullback.
Next, it is worth watching the $0.006589 and $0.005777 levels. If the previous high is broken, the funding rate remains negative, and open positions are maintained, the risk of a squeeze may increase.