⚠️BTC has touched 76000, but have you seen the perpetual contract funding rate on Binance? It's been negative for 46 consecutive days.
What does that mean? Short sellers have been paying for six and a half weeks to hold their positions. The last time it held up like this was during the FTX collapse.
In the past 24 hours, over 600 million USD has been liquidated across the network, with short sellers accounting for 485 million.
Interestingly, however, Binance's open interest is still rising, indicating that short sellers are not acknowledging the output situation; they are increasing their positions while being squeezed.
This is no longer called trading; this is called being 'on tilt.'
A guy from Zeus Research said it very directly: short squeezes typically last just a few days to one or two weeks. Any rebound without real demand support is fake.
On the other hand, the US BTC spot ETF saw a net inflow of 767 million USD last week, marking the third consecutive week of inflows.
People from Presto Research also mentioned that institutions are indeed buying spot.
So now it's very divided.
In the futures market, short sellers are holding on desperately, while in the spot market, institutions are buying up.
Prices are going up, yet more and more people are shorting.
The Fear and Greed Index is at 28, just crawling from 'Extreme Fear' to 'Fear.'
Market makers are currently in deep negative gamma, meaning their hedging will amplify volatility on both sides, surging more when the price goes up and dropping harder when it falls.
With 46 days of negative funding rates, short sellers have significantly compressed their holding costs.
They are still holding on; either they truly see something others don't, or they are already stuck and afraid to move.
But one thing is certain: a group of people has been willing to pay to short for six and a half weeks, indicating that the choice of direction should be coming soon. #加密市场回暖 #美军封锁霍尔木兹海峡 $BTC
What does that mean? Short sellers have been paying for six and a half weeks to hold their positions. The last time it held up like this was during the FTX collapse.
In the past 24 hours, over 600 million USD has been liquidated across the network, with short sellers accounting for 485 million.
Interestingly, however, Binance's open interest is still rising, indicating that short sellers are not acknowledging the output situation; they are increasing their positions while being squeezed.
This is no longer called trading; this is called being 'on tilt.'
A guy from Zeus Research said it very directly: short squeezes typically last just a few days to one or two weeks. Any rebound without real demand support is fake.
On the other hand, the US BTC spot ETF saw a net inflow of 767 million USD last week, marking the third consecutive week of inflows.
People from Presto Research also mentioned that institutions are indeed buying spot.
So now it's very divided.
In the futures market, short sellers are holding on desperately, while in the spot market, institutions are buying up.
Prices are going up, yet more and more people are shorting.
The Fear and Greed Index is at 28, just crawling from 'Extreme Fear' to 'Fear.'
Market makers are currently in deep negative gamma, meaning their hedging will amplify volatility on both sides, surging more when the price goes up and dropping harder when it falls.
With 46 days of negative funding rates, short sellers have significantly compressed their holding costs.
They are still holding on; either they truly see something others don't, or they are already stuck and afraid to move.
But one thing is certain: a group of people has been willing to pay to short for six and a half weeks, indicating that the choice of direction should be coming soon. #加密市场回暖 #美军封锁霍尔木兹海峡 $BTC