$550M in longs got flushed this week — and funding is STILL positive.
BTC perp funding flipped from -0.0043% to +0.0069% per 8h... while BTC dropped ~$3,600.
Capitulation bottoms come when shorts pay longs — Feb's $60K bottom had the most negative funding in 3 months. Longs paying to hold while price bleeds is not a bottom recipe.
Meanwhile OI rebuilt from $54.2B to $55.3B DURING the Oct 7 selloff — rising OI into a falling market means fresh longs catching the knife.
Book is thin: $6.93B spot volume vs $85.22B futures, a 12:1 ratio.
Offset: Binance logged its biggest BTC withdrawals since mid-2023 while whales deposited stablecoins — somebody big is preparing to bid lower.
$BTC is at 81-82K. With funding positive there's no short-squeeze fuel — longs have no cushion. Lose 81K and it's forced selling part two; reclaim 82K on real spot volume and the shorts finally have something to fear.
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$550M posisi long kebantai minggu ini — dan funding masih POSITIF.
Funding perp BTC berbalik dari -0.0043% jadi +0.0069% per 8 jam... padahal BTC turun ~$3,600.
Bottom kapitulasi biasanya datang saat short yang bayar long — bottom $60K di Februari kemarin funding-nya paling negatif dalam 3 bulan. Long yang bayar buat hold sambil harga berdarah bukan resep bottom.
Sementara itu OI malah naik dari $54.2B ke $55.3B DI TENGAH dump 7 Okt — OI naik saat harga turun artinya long baru nangkep pisau jatuh.
Book-nya tipis: volume spot $6.93B vs futures $85.22B, rasio 12:1.
Penyeimbang: Binance baru catat penarikan BTC terbesar sejak pertengahan 2023, sementara whale setor stablecoin — ada pemain besar yang siap bid di bawah.
$BTC di 81-82K. Selama funding positif, nggak ada bahan bakar short-squeeze — long nggak punya bantalan. Jebol 81K dan ini jadi forced selling ronde dua; reclaim 82K dengan volume spot beneran dan short akhirnya punya alasan buat takut.
#Bitcoin #Crypto #Funding
BTC perp funding flipped from -0.0043% to +0.0069% per 8h... while BTC dropped ~$3,600.
Capitulation bottoms come when shorts pay longs — Feb's $60K bottom had the most negative funding in 3 months. Longs paying to hold while price bleeds is not a bottom recipe.
Meanwhile OI rebuilt from $54.2B to $55.3B DURING the Oct 7 selloff — rising OI into a falling market means fresh longs catching the knife.
Book is thin: $6.93B spot volume vs $85.22B futures, a 12:1 ratio.
Offset: Binance logged its biggest BTC withdrawals since mid-2023 while whales deposited stablecoins — somebody big is preparing to bid lower.
$BTC is at 81-82K. With funding positive there's no short-squeeze fuel — longs have no cushion. Lose 81K and it's forced selling part two; reclaim 82K on real spot volume and the shorts finally have something to fear.
---
$550M posisi long kebantai minggu ini — dan funding masih POSITIF.
Funding perp BTC berbalik dari -0.0043% jadi +0.0069% per 8 jam... padahal BTC turun ~$3,600.
Bottom kapitulasi biasanya datang saat short yang bayar long — bottom $60K di Februari kemarin funding-nya paling negatif dalam 3 bulan. Long yang bayar buat hold sambil harga berdarah bukan resep bottom.
Sementara itu OI malah naik dari $54.2B ke $55.3B DI TENGAH dump 7 Okt — OI naik saat harga turun artinya long baru nangkep pisau jatuh.
Book-nya tipis: volume spot $6.93B vs futures $85.22B, rasio 12:1.
Penyeimbang: Binance baru catat penarikan BTC terbesar sejak pertengahan 2023, sementara whale setor stablecoin — ada pemain besar yang siap bid di bawah.
$BTC di 81-82K. Selama funding positif, nggak ada bahan bakar short-squeeze — long nggak punya bantalan. Jebol 81K dan ini jadi forced selling ronde dua; reclaim 82K dengan volume spot beneran dan short akhirnya punya alasan buat takut.
#Bitcoin #Crypto #Funding