"HELLO TO THOSE WHO SAY 'MEGA BULL IS COMING'!"
BTC is currently hovering around $87,448, and looking at the funding data, the situation is somewhat concerning.
On the perp side, $6.9 billion has fled in the last 30 days, $3.6 billion in 15 days, and over $800 million in 7 days... The spot side is also quite negative, for example, $3.47 billion in 30 days.
In short, long positions have paid a significant funding cost, while the short side has remained in an advantageous position during this process.
The market seems to be tightening a bit on longs these days; those entering long positions with leverage may have struggled.
I think at these levels, don't rush; opening long positions when funding is this negative can be costly. It seems wise to patiently wait for healthier entry points.
Of course, everyone knows their own risk, but be careful; your money is valuable.
