Retail is stacked long on BNB and the big wallets are not standing with them.
Retail long/short there is 2.75, smart money only 1.11. Funding cooled from 0.0116% to 0.0029%, so some longs are slipping out, but takers are still selling into the bid at 0.89x. That's a crowd leaning one way with nobody big behind it. I'm not firing on that alone though. Volume is thin at $0.07B, so it could just be noise, and $680 support is sitting right under price. A short here has ugly risk-reward. I want to see rejection near $708 or a clean break of $680 first.
BTC itself is doing nothing interesting, $77,248 down about 1.1%, boxed between $76.4K and $78.2K. RSI at 41, MACD trying to turn up, but EMAs still bearish and volume basically dead. ETF outflows keep dragging and the Coinbase premium is at an eight month low.
Gold near $3,905, dollar firm, USD/INR at 94.75. That is a defensive tape, not a risk-on one. Breadth 8 up, 21 down, 30 flat, dominance 59.9%, meaning money is sitting in BTC and not rotating into alts. Add the Binance hack headlines and Tether freezing $1.5B and sentiment stays shaky.
Nothing to chase. Sitting out is a position too. Not financial advice, just my read.
Do you think $76.4K holds this week or do we flush lower?
#Trading #Binance #Bitcoin #Ethereum #Crypto
Retail long/short there is 2.75, smart money only 1.11. Funding cooled from 0.0116% to 0.0029%, so some longs are slipping out, but takers are still selling into the bid at 0.89x. That's a crowd leaning one way with nobody big behind it. I'm not firing on that alone though. Volume is thin at $0.07B, so it could just be noise, and $680 support is sitting right under price. A short here has ugly risk-reward. I want to see rejection near $708 or a clean break of $680 first.
BTC itself is doing nothing interesting, $77,248 down about 1.1%, boxed between $76.4K and $78.2K. RSI at 41, MACD trying to turn up, but EMAs still bearish and volume basically dead. ETF outflows keep dragging and the Coinbase premium is at an eight month low.
Gold near $3,905, dollar firm, USD/INR at 94.75. That is a defensive tape, not a risk-on one. Breadth 8 up, 21 down, 30 flat, dominance 59.9%, meaning money is sitting in BTC and not rotating into alts. Add the Binance hack headlines and Tether freezing $1.5B and sentiment stays shaky.
Nothing to chase. Sitting out is a position too. Not financial advice, just my read.
Do you think $76.4K holds this week or do we flush lower?
#Trading #Binance #Bitcoin #Ethereum #Crypto