$QCOM dropped 7.8% in a day, crashing down to 231. Volume spiked to 23.1 million; it's not a record high, but enough to clean out the bulls. Funding rate is still stuck at positive 0.00015777, with prices plummeting while funding remains positive—bulls are holding positions and paying up, making this structure really grindy.
I checked the OI and it's only 37901; the market isn't that big, indicating not many new shorts are chasing it down, more like spot traders closing positions and pushing it lower. This kind of drop doesn’t feel like a forced sell-off, but more like profit-taking cascading down.
Trading tags: #BinanceFutures #TradFi #USDⓈM #QCOM #QCOMUSDT $QCOM
I checked the OI and it's only 37901; the market isn't that big, indicating not many new shorts are chasing it down, more like spot traders closing positions and pushing it lower. This kind of drop doesn’t feel like a forced sell-off, but more like profit-taking cascading down.
Trading tags: #BinanceFutures #TradFi #USDⓈM #QCOM #QCOMUSDT $QCOM