Market update today 🫠
Current Market Last Price: $88,885.1 Price Change (24h): -0.95% 24h High: $90,263.7 24h Low: $88,631.7 24h Volume (BTC): 13,294.888 BTC 24h Volume (USDC): 1.19 Billion USDC The market is showing a slight decline over the last 24 hours, approaching the 24-hour low.
📊 Recent Price Action (Visible on the 15m/1h chart) The chart shows a distinct, sharp downward spike around 18:19 (6:19 PM) followed by a partial rebound and a continuation of the downtrend. The price dropped significantly below the MA60 (Moving Average 60), which is currently at 89,252.4. At the moment of the screenshot, the price is fluctuating just above the intraday low, showing a slight consolidation but with a clear downward bias on the visible chart segment. 💡
Context on BTCUSDC Perpetual Futures The contract you are viewing is a Linear Perpetual Futures contract, meaning: It is settled in USDC (a stablecoin pegged to the US Dollar). It has no expiration date. It uses a Mark Price (88,884.0 in your screenshot) which is designed to be a more stable reference for liquidations and profit/loss calculation, mitigating the impact of temporary market manipulation. Funding Rates (not visible in the main panel) are periodic payments between long and short traders to keep the perpetual contract price aligned with the underlying spot price of Bitcoin (BTC).
The current chart data suggests a period of short-term volatility and a correction in the BTC price on that date. Would you like me to look for: Recent news articles about the $90,000 price area for Bitcoin? A technical analysis for the current trend on the BTCUSDC pair? General information about crypto perpetual futures trading?
