$BTC Same game… nothing really changed under the hood.
$LAB $UB
This push up?
Still spot doing the heavy lifting. Real buyers stepping in.
Meanwhile perps kept fading it… and yeah, they got run over again.
Feels like déjà vu at this point.
Every leg higher this past month has the same fingerprint.
Until that shifts… hard to argue against another push up. Just is what it is.
But right now things feel a bit… quieter.
Spot volume kinda dried up.
Open interest pulling back a bit.
Funding moved from negative back to flat, so yeah, shorts getting out again, not pressing anymore.
Here’s the part that makes me pause though…
Funding reset, but OI still sitting pretty high.
That usually means new longs stepped in with leverage.
And if spot doesn’t come back to support this…
those guys might be next in line.
Not saying it dumps right here, just saying…
if there’s no real buying behind it, someone has to pay.
Seen this movie before.
#UBUSDT #LABUSDT #BTCUSDT.