Liquidations Partly to Blame For Major Volatility Today

😮 Bitcoin saw an enormous jump to ~$90,087 on Coinbase 2 hours ago before quickly sliding back to its current ~$86,580 market value. Bitcoin’s rising positive funding rates on exchanges signals more leveraged long positions, which historically has led to sharp liquidations and higher volatility, including recent tops and pullbacks.

📊 Ethereum contrasts this trend, with shorts outweighing longs for now, suggesting weaker bullish conviction and less risk dynamics than $BTC. But all assets will still move with Bitcoin, meaning Bitcoin's funding rates must stay neutral or go negative in order to justify a clear path back to$100K and for altcoins to rebound.

🧐 Track the total aggregated funding rates for Bitcoin & Ethereum any time with this helpful chart dashboard.

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