The shock will eventually end and the direction will soon emerge! It's time to make it out, brothers.

A rather strange phenomenon has appeared in the market. The funding rate is no different from the past ten days and has always remained at an extremely low level. Normally, when the funding rate is at such a low level, it is obvious from the liquidation map that there are signs of a large amount of short liquidity.

But the current situation is extremely abnormal. In the distribution of liquidation liquidity, the area with the largest total volume and the most concentrated area is actually the long liquidity area below the price. This means that while the shorts continue to lower the funding rate through hedging, the longs are also opening positions continuously.

Although not all short orders are used for hedging, the proportion of hedging in short orders cannot be underestimated. This game situation between the long and short sides makes it difficult for prices to rebound strongly or trigger short liquidation continuously in a low funding rate environment. In the past ten days, price fluctuations have been confined to a very narrow range and have always been in a state of shock.