BR just printed its worst day on the Binance perp chart, and that chart goes back to March 2025.
BR at $0.2318. -55.01% in 24h, -26.80% over 7 days, $200M in perp volume.
There's no earlier move on this chart to compare it with, and that's exactly the kind of moment when people's expectations run way ahead of the data.
Funding's close to flat at 0.0050% with about $10M in open interest, so by that measure it isn't a crowded trade yet.
Bitcoin at $75,940 did -2.39% over the same 24h, so this one's moving on its own story.
Red candles like this don't hurt the chart. They hurt whoever was sized for a different week.
Capitulation, or just the start of it?
My own view, nothing more. Not investment advice, not a solicitation. Everyone here decides for themselves.
#BR
BR at $0.2318. -55.01% in 24h, -26.80% over 7 days, $200M in perp volume.
There's no earlier move on this chart to compare it with, and that's exactly the kind of moment when people's expectations run way ahead of the data.
Funding's close to flat at 0.0050% with about $10M in open interest, so by that measure it isn't a crowded trade yet.
Bitcoin at $75,940 did -2.39% over the same 24h, so this one's moving on its own story.
Red candles like this don't hurt the chart. They hurt whoever was sized for a different week.
Capitulation, or just the start of it?
My own view, nothing more. Not investment advice, not a solicitation. Everyone here decides for themselves.
#BR