The old dog took a glance at PLTR, which shot up 8.37% in the last 24 hours, hovering around $157, with a trading volume stacking up to 30 million. Interestingly, the funding rate has been locked at zero, not budging an inch all day. With such a significant rise, the bulls don’t even have to pay overnight fees, indicating that this rally isn’t fueled by leverage; it’s either strong spot buying at the peak or shorts being forced to cover, pushing the price up. The open interest is over 24,000 contracts, which isn't huge, but the combination of a zero funding rate and the price increase suggests a clean position structure, without the risky signals of bulls clustering together.
In this round, PLTR has been moving independently within TRADIFI PERP, not correlating or resonating with others, just pushing ahead on its own. The $157-$160 range is an extension of the previous two rebound highs, and if today's price can hold, the old dog will keep holding; however, if it crashes back below $150 towards the end of the session, I’ll definitely trim half off, not getting sentimental with the market. Right now, many in the market feel that the bounce is too strong and it's time to top out, but I’m not that pessimistic. The funding rate is neutral, and open interest hasn’t exploded; this feels more like a buildup in the mid-stage of a rally, not the end of the fireworks. To put it simply, in a real topping scenario, the bulls would be holding up the funding rate desperately, but right now, the money isn't even hot to the touch.
Last time PLTR was trading around $140, I took profits early, watching it soar while clenching my thighs.
Trading Tags: #BinanceFutures #TradFi #USDⓈM #PLTR #PLTRUSDT $PLTR
In this round, PLTR has been moving independently within TRADIFI PERP, not correlating or resonating with others, just pushing ahead on its own. The $157-$160 range is an extension of the previous two rebound highs, and if today's price can hold, the old dog will keep holding; however, if it crashes back below $150 towards the end of the session, I’ll definitely trim half off, not getting sentimental with the market. Right now, many in the market feel that the bounce is too strong and it's time to top out, but I’m not that pessimistic. The funding rate is neutral, and open interest hasn’t exploded; this feels more like a buildup in the mid-stage of a rally, not the end of the fireworks. To put it simply, in a real topping scenario, the bulls would be holding up the funding rate desperately, but right now, the money isn't even hot to the touch.
Last time PLTR was trading around $140, I took profits early, watching it soar while clenching my thighs.
Trading Tags: #BinanceFutures #TradFi #USDⓈM #PLTR #PLTRUSDT $PLTR