$BILL pumped 9 points, and the funding rate is only +0.005%? That number is practically negligible. Look, if the bulls were truly strong, the rate would have skyrocketed to over 0.01% by now. At this level, it means the longs are hesitant to push higher, and the shorts aren’t in a rush to close their positions—market sentiment is actually quite ambiguous.
Now, looking at the trading volume, 1.1 billion coins in 24 hours, with a trading amount of over 90 million; that averages out to about 0.0818, which is actually lower than the current price of 0.08641. To put it bluntly, most of the chips were exchanged at lower levels, and after the rise, the volume actually shrank. This kind of volume-price relationship looks more like an inertia spike after an oversold rebound, rather than new capital pouring in.
Around that high point of 0.09183, there’s clearly selling pressure. At this position, neither side is eager to make a move. If you ask me how I think it will go—I’m not optimistic about it holding above 0.09. The funding rate hasn’t given a signal, and the trading volume hasn’t followed, so in the short term, it’s highly likely to pull back to around 0.08 to look for support.
#BILL
Now, looking at the trading volume, 1.1 billion coins in 24 hours, with a trading amount of over 90 million; that averages out to about 0.0818, which is actually lower than the current price of 0.08641. To put it bluntly, most of the chips were exchanged at lower levels, and after the rise, the volume actually shrank. This kind of volume-price relationship looks more like an inertia spike after an oversold rebound, rather than new capital pouring in.
Around that high point of 0.09183, there’s clearly selling pressure. At this position, neither side is eager to make a move. If you ask me how I think it will go—I’m not optimistic about it holding above 0.09. The funding rate hasn’t given a signal, and the trading volume hasn’t followed, so in the short term, it’s highly likely to pull back to around 0.08 to look for support.
#BILL