Funding rates are inverted and even still being subsidized, yet people are still charging ahead—this RE rally looks like it’s been forcefully hard-carried.

I saw RE go from 0.32 all the way to over 1 dollar. Turnover is stacking up to frightening levels. The original post said the whales’ position structure hides the game of maneuvering, but after reading it, I just have one feeling: retail investors are chasing, while smart money is distributing.

When funding rates are inverted and subsidized, it means the bulls don’t want to pay, and their willingness to hold looks very flimsy.

In the end, I couldn’t keep myself together either. I was originally just watching, but with a burst of impulse I opened a $BTC long, 8x leverage, entering at 66,342.

Now the price is at 64,319, and I’m floating at a loss of nearly 25%, burning 28 dollars.

This move is even more abstract than RE’s funding rate.

When chasing a breakout, you always feel like if you don’t get in now, it’ll be gone. After getting in, I realized the market didn’t give you any good face at all.

$BTC is grinding around 64k, and RE’s bullish candle has no follow-through. The inverted funding rate is a signal—it can’t hold.

Now, looking back calmly, this RE move feels more like quant funds pushing. Retail chasing in is just becoming the bagholder.

If $BTC can’t even hold above 64k, the next liquidation wave could be even more intense. The short liquidation zone is above 64k, while longs are around 62k—both sides are holding back big moves.

This loss isn’t that big for this round, but the rhythm is completely messed up. Chasing highs, missing the entry, and getting trapped—three actions forming a perfect closed loop.

If you’re bullish you pay 1, if you’re bearish you pay 2. I want to know how many people are like me, tearing their legs apart over RE.

On the Fed side, the FOMC chaired by Waller maintains the 3.5-3.75% interest rate range. The rate-cut window is directly closed, and the probability of a rate hike in July reaches 39.6%. $BTC is hovering below 64k. Although the fear index has risen from 14 to 23, it’s still extreme fear.

With capital likely withdrawing from risk assets, coins like RE that surge then pull back are the most likely to suffer liquidity drawdowns.
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