The only thing that saves bitcoin is the funding rate. As soon as bitcoin falls to $500-$1000 there are immediately aggressive shorts. MM will rekt such fools anyway before the main drop down.
If you compare it to the previous crash in May, there was a capitulation on May 19 and the funding rate that day was -0.1475 and then stayed -0.025 for a few days.
Now the rate is only negative on some days, which says that the fools are aggressively shorting the local dips. And the minimum funding rate was only -0.013.
capitulation ahead
If you compare it to the previous crash in May, there was a capitulation on May 19 and the funding rate that day was -0.1475 and then stayed -0.025 for a few days.
Now the rate is only negative on some days, which says that the fools are aggressively shorting the local dips. And the minimum funding rate was only -0.013.
capitulation ahead