$SQQQ has risen 5.177% over the past 24 hours, with the current price at 35.15. Meanwhile, the funding rate has stayed in positive territory at 0.00008059. This combination says a lot: price is moving up, but bullish traders (those going long
$SQQQ , which is bearish on Nasdaq) are paying funding fees to hold their positions.
From a global news perspective, if the dominant narrative is focused on risk assets rebounding or tech stocks recovering, then
$SQQQ , as a 3x inverse Nasdaq product, should be under pressure. But not only did it not fall, it actually rose. Combined with the positive funding rate signal, this creates a contradiction: bearish sentiment on Nasdaq is heating up (pushing
$SQQQ higher), but traders going long
$SQQQ are already too optimistic, and their holding costs are piling up. This does not look like a healthy trend beginning; it looks more like a war of attrition after a short-term sentiment overload.
My view is that the current price gain plus positive funding means longs are paying for bearish conviction, and the durability of this positioning structure is questionable. If the Nasdaq shows any signs of stabilization or rebound intraday, profit-taking pressure in
$SQQQ will likely be released first.
I will watch two signals: first, whether
$SQQQ trading volume can keep expanding; if volume rises but price stalls, that is a warning sign. Second, whether the funding rate returns toward zero or turns negative.
Trading tag:
#TradFi #链上美股 #SQQQ
Where do you think this judgment is most likely to be wrong?