$VIC took a serious hit today, dropping a solid 25%. The funding rate plummeted straight to -0.145%, with shorts celebrating while longs are getting crushed.
This kind of deep negative funding rate typically means that shorting other coins would come with outrageous costs, risking a short squeeze. But VIC is different — the price keeps tanking, with over 16 million USD in trading volume in the last 24 hours, and sell orders aren't stopping. This shows that shorts aren't afraid to open positions; they're aggressively adding to their stacks, while longs are forced to liquidate.
Right now, at 0.0419, there’s about 10% room for a rebound before hitting the low of 0.038. If we can’t reclaim above 0.045 tonight, this downward trend likely isn’t done yet. Extreme funding rates usually appear at the end of panic, but we need to wait for it to stabilize or bounce back before talking about a recovery.
For now, don’t rush in. Let the shorts release one more wave; consider entering once the funding rate returns to within -0.05% or if we see a volume spike that halts the decline. Otherwise, what you might catch isn’t the bottom, but just halfway down the mountain.
#VIC
This kind of deep negative funding rate typically means that shorting other coins would come with outrageous costs, risking a short squeeze. But VIC is different — the price keeps tanking, with over 16 million USD in trading volume in the last 24 hours, and sell orders aren't stopping. This shows that shorts aren't afraid to open positions; they're aggressively adding to their stacks, while longs are forced to liquidate.
Right now, at 0.0419, there’s about 10% room for a rebound before hitting the low of 0.038. If we can’t reclaim above 0.045 tonight, this downward trend likely isn’t done yet. Extreme funding rates usually appear at the end of panic, but we need to wait for it to stabilize or bounce back before talking about a recovery.
For now, don’t rush in. Let the shorts release one more wave; consider entering once the funding rate returns to within -0.05% or if we see a volume spike that halts the decline. Otherwise, what you might catch isn’t the bottom, but just halfway down the mountain.
#VIC