$BTC ripped from 63K to 65K. Spot led, perps followed.
- Spot CVD (Binance, 15m): +202.28M, climbing steadily off 63K
- Perp CVD (Binance Futures, 15m): +323.26M, flipped positive only after 64K broke
- Coinbase Premium: -0.09%, negative the entire rally
- Funding: 0.0052%, low and stable. No leverage buildup
Spot buyers drove this. Negative Coinbase premium means it wasn't US-based. Perp longs jumped in after 64K cleared, pushing funding higher.
Price cooled to 64K but neither CVD rolled over. Nobody's taking profit yet.
The move started on real spot demand. But Coinbase premium never flipped positive. The biggest US spot pool sat this one out.
#BTCPerpFundingRateHits20MonthHigh
- Spot CVD (Binance, 15m): +202.28M, climbing steadily off 63K
- Perp CVD (Binance Futures, 15m): +323.26M, flipped positive only after 64K broke
- Coinbase Premium: -0.09%, negative the entire rally
- Funding: 0.0052%, low and stable. No leverage buildup
Spot buyers drove this. Negative Coinbase premium means it wasn't US-based. Perp longs jumped in after 64K cleared, pushing funding higher.
Price cooled to 64K but neither CVD rolled over. Nobody's taking profit yet.
The move started on real spot demand. But Coinbase premium never flipped positive. The biggest US spot pool sat this one out.
#BTCPerpFundingRateHits20MonthHigh