$CHIP BULLS ARE BLEEDING—IS A DEEP REVERSAL IMMINENT? 📉🚨
The market data for $CHIP is showing a significant struggle for the buyers. Currently, the price has dropped to $0.0626300 (-5.68%), leaving 102 long whales trapped in a loss of $365,659.51. These bulls entered at a high average price of 0.0712244 USDT, and only a tiny 13.72% of long positions are currently profitable.
On the other hand, the bears are firmly in control. 94 short whales are enjoying $171,262.20 in unrealized profits with an 81.91% profitability rate. However, there is a catch: the funding rate is deeply negative at -0.0678%. This means shorters are paying a heavy fee to the longs to keep their positions open. With the Notional Long/Short Ratio sitting at an almost perfect balance of 100.07%, the market is at a crossroads. In the last 30 minutes, 36 whales stepped in to buy versus 33 selling. If the bulls can use the high funding costs to squeeze the profitable shorters, we could see a relief bounce—but for now, the sell-side pressure remains heavy!