Crypto prices are down and while there’s few signs of an immediate recovery, noshitcoins says the futures funding rate shows retail traders have not turned entirely bearish.
) faced an incredible 100% crash after the foundation responsible for administering the ecosystem reserve was forced to sell its Bitcoin position at a loss and issue trillions of LUNA tokens to compensate for its stablecoin breaking below $1.
Excessive buying demand puts the indicator above fair value, which is 100%. On the other hand, Tether‘s market offer is flooded during bearish markets, causing a 2% or higher discount.Currently, the Tether premium stands at 101.3%, which is slightly positive. Furthermore, there has been no panic over the past two weeks. Such data indicate that Asian retail demand is not fading away, which is bullish, considering that the total cryptocurrency capitalization dropped 19.8% over the past seven days.
However, the two leading cryptocurrencies did not face the same leverage selling pressure, as measured by the accumulated funding rate. Typically, when there‘s an imbalance caused by excessive pessimism, that rate can easily move below negative 3% per month.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Brown’s late home run leads A’s to fourth win in five-game series vs. TigersSeth Brown smashed an eighth-inning home run to break a 3-3 tie and A.J. Puk threw two scoreless innings to earn the win.
Read more »
Report: UAE's Emirates Airline Set to Use 'Bitcoin as a Payment Service' – Featured Bitcoin NewsThe airline is planning to recruit personnel that will help it create applications to monitor client needs. metaverse nfts bitcoin
Read more »
Lido Deploys Additional Curve Pool to Improve Liquidity Around Bonded ETH Peg – Defi Bitcoin NewsLido’s bonded ethereum tokens have been under pressure due to an imbalance on Curve’s bonded ethereum (stETH) and ethereum pool.
Read more »
Nomura Starts Trading Crypto Derivatives, Joining Rivals Goldman, JPMorganNomura carried out bitcoin futures and options trades with derivatives exchange CME Group and crypto market maker Cumberland DRW.
Read more »
Zach Logue pitches gem, A's shut out TigersZach Logue pitched seven sharp innings in his second major league start and the Oakland Athletics spoiled the debut of Joey Wentz by thumping the floundering Detroit Tigers 9-0 on Wednesday night.
Read more »
Analysis: Wall Street ‘fear gauge’ offers no silver lining as bear market loomsA surprising lack of panic in the U.S. stock market as measured by Wall Street’s 'fear gauge' is keeping some investors from calling a bottom on an already bruising equity selloff.
Read more »