Before you panic sell your $BTC, take a look at what’s happening:


Over the last couple of days, the price has been going down slightly, while the open interest has climbed up.
But things become interesting if we correlate this with Funding Rates, which have flipped negative.
This shows us that bears are DOUBLING DOWN right now and betting on a breakdown.
It also shows that even though the market structure remains intact, bears are shorting as if a breakdown already happened.
That’s generally how bear-traps are formed.
BTC-3.01%
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