The $404M long wipeout was not a full reset.
$BTC briefly broke below $80K, yet #Binance funding was still +0.0080% per eight hours late on October 25, with open interest near $7.53B. Price recovered to roughly $80.2K, but longs were still paying.
That is the part that matters. Liquidations can remove weak positions without removing the bullish bias behind them.
For bulls, holding $80K while funding cools would be the healthier signal. If price loses $80K while funding stays positive, the market may still have another layer of crowded longs to clear.
$BTC briefly broke below $80K, yet #Binance funding was still +0.0080% per eight hours late on October 25, with open interest near $7.53B. Price recovered to roughly $80.2K, but longs were still paying.
That is the part that matters. Liquidations can remove weak positions without removing the bullish bias behind them.
For bulls, holding $80K while funding cools would be the healthier signal. If price loses $80K while funding stays positive, the market may still have another layer of crowded longs to clear.
