Lei06
Lei06
Crypto Market Participants & Web3 Content Creators. Study on-chain data, track hot narratives, and make transactions that you can understand. I believe that good content requires patience just like good positions.
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Current mainstream CEX and DEX funding rates indicate a significant weakening of bearish sentiment in the market
On May 20, according to Coinglass data, as Bitcoin remains in consolidation, the current mainstream CEX and DEX funding rates show a significant weakening of bearish sentiment in the market, with specific funding rates shown in the attached chart.
Funding rates are fees set by cryptocurrency trading platforms to maintain the balance between the contract price and the underlying asset price, typically applied to perpetual contracts. It is a mechanism for the exchange of funds between long and short traders; the trading platform does not collect this fee. It is used to adjust the cost or profit of traders holding contracts to keep the contract price close to the underlying asset price.
When the funding rate is 0.01%, it represents the baseline rate. When the funding rate is greater than 0.01%, it indicates a generally bullish market. When the funding rate is less than 0.005%, it indicates a generally bearish market.
There is a valley that seems to have stepped out of an ancient ink painting. Wuyuan—"The Hermit's Retreat." The karst peaks shrouded in mist rise like stone pillars from another world. Here, what you feel is not only silence but also the breath of eternity.
Interesting fact: Wuyuan is famous for its traditional ancient villages, with over 500 well-preserved houses from the Ming and Qing dynasties. This valley also hosts a unique ecosystem, where diverse flora and fauna thrive within its karst landscape.
BSB rose 8.5% today.
Then the shorts still hold 60%. No exit.
BSB current price $0.737, UTC today +8.47%. 24h high $0.747, 24h low $0.630.
Today's 10-hour short ratio trend:
61.64% → 61.21% → 59.89% → 59.70% → 59.47% → 60.23% (latest)
Price rose 8.5%, shorts dropped from 61.64% to 59.47%—but the latest rebound went back to 60.23%.
They are withdrawing, but very slowly, and a new batch of shorts came in the latest period.
Out of 10 open accounts, 6 are shorting BSB.
Then look at OI, the most critical tonight:
$18.19M → $18.64M → $20.50M → $20.85M (latest)
At 23:00 UTC, OI jumped from $18.64M to $20.50M, a single hour increase of +$1.86M.
Then it continued to rise to $20.85M, a 10-hour new high, still climbing.
Funding rate: -0.000301, negative.
Shorts are paying longs.
Putting these three things together: price rose 8.5%, shorts still hold 60% and refuse to leave, OI surged by $1.86M in one hour at 23:00, and the negative funding rate means short position costs are rising.
These shorts entered around $0.63-$0.73, their stop loss is set above $0.747—the high point today.
Once $0.747 breaks through, 60% of shorts will start concentrated stop losses, and the $20.85M short positions in OI will start bleeding.
Entry: $0.737
Stop loss: $0.610 (below 24h low structure)
Target 1: $0.850
Target 2: $1.00+
Opened longs, waiting for the $0.747 gate to open. 👇
$BSB

【Pump.fun will launch a new USDC token pair on May 21】
Pump.fun will launch a new USDC token pair on May 21. The existing SOL-based pairs will not be affected by this change. Since its launch in January 2024, at least 5.07 million SOL are estimated to be locked in liquidity pools, valued at $430 million.
According to on-chain data, over $382 million has been allocated for PUMP buybacks, removing 37.9% of the circulating supply from the market and offsetting 13.4% of the total supply. $SOL $PUMP

