If I were to summarize the current table, friends, it seems like prices are stuck at the top in the charts, but the incoming data from below is not very encouraging. So, what makes one think 'it's rising' could actually be somewhat misleading.

Especially, both spot and futures CVDs are downward, which shows us that the dominant force in the market is not buyers but sellers. In other words, even if the price is holding up, there is no strong buying to support it.

Funding rates are positive, what does that mean? People are piled up on the long side. But if the price is not going up despite this, it means these positions could be punished, so one must be careful. On top of that, Bid/Ask Delta is negative, and the dominant side on the order book is selling.

On the Open Interest side, it seems like new positions are not being opened or long positions are being closed, especially because there is a resolution on the ETH side. $btc $eth

I shared my potential direction prediction on Telegram.

Disclaimer

This content is not investment advice and is solely of a personal analysis and opinion nature. Crypto assets carry high risks; there is no guarantee of specific returns or profits. Please do your own research.