12-11-24

BTC 4-hour chart update (CP 88680)

Fear and Greed: 80 (Ex, Greed), yesterday 76 (Ex, Greed)

BTC Dominance: 60.35% Dominance has increased from yesterday

Price action: Price came down today and took support from the 8 ema.  

Premium Index: PI has decreased since yesterday and currently at 0.0476 %.

Funding Rates: FR has increased since yesterday and currently at 0.0367 %.

Open Interest: OI is at $51.294 B which has increased from yesterday

Volume: Vol. is at $92.154 B which has increased from yesterday

To conclude: The recent surge in both funding rates indicates a bullish trader sentiment. However, market makers like to hunt liquidity which today was longs and 1 billion of longs were liquidated from the market. Rising market liquidity, as evidenced by increased open interest and trading volume, further supports the uptrend in price. However, sustained elevated funding rates and premium index may signal speculative activity, which could potentially lead to market instability.