$ONDS 24 hours down 3.97%, current price 7.355. One detail worth noting is that its contract funding rate is 0. When the price falls, the funding rate does not turn negative, which suggests that the shorts have not formed an overwhelming advantage to charge longs funding.
A funding rate of zero usually means the long and short forces are temporarily locked in a stalemate; both sides are waiting, and the market lacks a clear one-way driver. Combined with a position size of around 140,000 lots, the market doesn’t yet look like it has reached panic liquidation levels. The downward move is more likely due to spot sell pressure or reduced liquidity rather than shorts dominating a cascading “multi-kill” chain reaction.
The current structure isn’t worsening, but it also doesn’t provide a reason to buy. I will watch whether the funding rate turns negative if the price falls further to around 7.1. If it breaks below that level and the funding rate turns negative at the same time, it would indicate that the shorts are starting to take control, and I would consider going short. Until then, I choose to stay on the sidelines and won’t catch falling knives.
Trading tag: #TradFi #链上美股 #ONDS
Where do you think this assessment is most likely to be wrong?
A funding rate of zero usually means the long and short forces are temporarily locked in a stalemate; both sides are waiting, and the market lacks a clear one-way driver. Combined with a position size of around 140,000 lots, the market doesn’t yet look like it has reached panic liquidation levels. The downward move is more likely due to spot sell pressure or reduced liquidity rather than shorts dominating a cascading “multi-kill” chain reaction.
The current structure isn’t worsening, but it also doesn’t provide a reason to buy. I will watch whether the funding rate turns negative if the price falls further to around 7.1. If it breaks below that level and the funding rate turns negative at the same time, it would indicate that the shorts are starting to take control, and I would consider going short. Until then, I choose to stay on the sidelines and won’t catch falling knives.
Trading tag: #TradFi #链上美股 #ONDS
Where do you think this assessment is most likely to be wrong?