$COIN The 6.7% gain isn’t exactly brutal, but when you look at the funding rate, it gets interesting. Right now the cosmic fee rate is 0.025%—moderately high but not extreme—which suggests the bulls are chasing, but there’s no FOMO spiraling out of control. The key is that the open interest hasn’t moved much these past few days—around 34,000 BTC—which indicates this move isn’t new money rushing in; it’s existing participants working through a squeeze to flush out the shorts.

Last night Trump’s tariff tweet added a bit of chaos. Once volatility picks up in the traditional markets, bridge-type contracts like $COIN get carried along by sentiment on both sides. I’m not too comfortable chasing longs now. This kind of squeeze-style rally often pumps and then runs. I’ve shifted my stance to neutral-to-bearish. If price tests the 157.5–158 range and doesn’t break through, I’ll consider entering shorts step by step.

If it really breaks above 160, then I’ll be wrong and get slapped. I’ll accept it—but until then, I won’t change my view.

Bias: bearish, wait for 157.5–158 to provide resistance.
Multiplier: 3x
Stop-loss: 160.5
Take-profit: 153
Position size: 5–10%.

Trading tag: #TradFi #链上美股 #COIN #RIOT

Geopolitical risk is escalating—how are you handling COIN?