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Brothers, SNDK closed at 1739.89, up 0.59%, but slightly fell to around 1735 after hours $SNDK $1,739.89 SanDisk closed Wednesday at $1,739.89, up 0.59%, with an intraday range of $1,720.71-$1,756.00. Since the high of $1,909 on September 22, it has retraced about 9%, currently seeking support in the 1700-1750 range. Bernstein calls a $3000 target price, but the CEO reduced holdings at the high Bernstein maintains an "outperform" rating and a $3,000 target price, implying about 73% upside from the current price. The core reason is that NAND supply tightness will continue until 2027. SanDisk has signed 8 long-term contracts locking in at least $93.9 billion in revenue, covering about 50% of fiscal 2027 and about two-thirds of fiscal 2028 shipments. But one signal is worth noting: CEO David Goeckeler sold 33,841 shares on September 17, cashing out about $53.27 million. Technically, $1,700 is a key short-term battleground. Holding this level could form a technical rebound; if broken, the price may fall to $1,650-$1,680. The analyst consensus target price is $2,136.54, with 25 firms mostly rating "buy". Discuss in the comments, Bernstein calls 3000 and the CEO reduces holdings, which do you believe?👇 #10月加息预期回落,今晚PCE成关键 $BTC $ETH $ZEC The entire market has clearly entered a pause period waiting for macro data. BTC is stuck in high-level oscillation, with short-term direction unclear; neither bulls nor bears have absolute control. Funds are currently waiting for key data like the non-farm payrolls to be released, unwilling to launch large-scale attacks prematurely, and overall volatility is being suppressed. There are two phenomena on the market worth noting: First, BTC is stagnant while sectors begin to diverge. Some of the old strong coins still have funds clustered together, showing independent trends; meanwhile, most altcoins have cooled off, struggling to rise and prone to pullbacks. Many probably feel like they are earning from the index but not from the coins. Second, contract market sentiment is volatile. A slight upward pull immediately heats up bullish sentiment; a small pullback quickly triggers panic again. The back-and-forth shakeout and two-way liquidations have become the norm recently, and friends using high leverage are easily hit from both sides. Technical indicators now have reduced reference value; the biggest variables lie in external markets. The US dollar, US Treasury yields, and Federal Reserve policy expectations will indirectly determine the upcoming sentiment switch in the crypto market. In this oscillating grinding phase, the biggest taboo is subjective one-sided predictions and heavy bets on direction. Managing position size and patiently waiting for the market to choose a direction on its own will be much safer. So at this stage, do you lean more towards a pullback or continuing to test resistance upwards? Let's discuss in the comments and explore together. I think it's better to wait for the data before making a judgment; it's hard to pinpoint levels right now, so caution is advised…10/1 Daily Report Today there was finally some concrete progress on the US-Iran front. Trump said the war with Iran "will end very soon," and Iran also confirmed receiving a seven-day proposal response from the US side, with formal discussions scheduled for Wednesday. Compared to the past few days where both sides talked past each other and denied each other's statements, this time there is at least a clear date and concrete documents. However, the phrase "will end very soon" has appeared several times before, so whether there is actual progress still depends on what is said after Wednesday's talks. Economic data is also interesting. The US core PCE came in below expectations, hitting a six-month low, signaling clear inflation cooling. However, Kashkari came out the same day saying there will be another rate hike this year and another in 2027. The data says cooling, officials say tightening is still needed; this contradiction has been recurring lately. Additionally, the FTC today launched a comprehensive investigation into Anthropic and OpenAI, marking the first major regulatory action against leading AI companies. Meanwhile, Micron's earnings and revenue both exceeded expectations, and the outlook for next quarter is also good; AI hardware performance remains stable. #USIranSituation #FederalReserve #PCE ETH, SanDisk, ZEC 10.1 Overview ETH is reported around $2,675, falling below the 7-day SMA of $2,684, with an active buy-sell ratio of 0.6962, indicating significant selling pressure dominance. The first support line below is at $2,629, with stronger support at $2,597; above, a strong recovery above $2,689 and a breakthrough of $2,721 are needed to open the $2,780 resistance zone. Ethereum ETF saw a net outflow of about $596,000 yesterday, ending a seven-day consecutive rise, with institutional momentum cooling in the short term. SanDisk (SNDK) closed at $1,739.89 on September 30, slightly up by 0.59%. Bernstein maintains an "outperform" rating with a target price of $3,000, implying about 73% upside potential. The daily chart forms an ascending triangle; a breakout above the $1,893 resistance will trigger momentum buying, with a measured target pointing to $2,793. The October 29 earnings report is a key catalyst. ZEC is reported around $1,395, down about 18% from the September high of $1,693. The 4-hour MACD death cross confirms bearish momentum, with EMA50 ($1,493) suppressing upward movement and EMA200 ($1,228) providing long-term bottom support. Whales have cumulatively withdrawn about $20 million ZEC from Binance over the past month, with on-chain accumulation signals intact. The key support range is $1,350–$1,400; a break below may lead to a drop toward $1,300. This is only a technical overview and does not constitute investment advice. Brothers, BTC and ETH only held strong for a few minutes in the face of positive PCE data, then got slapped back down by the bond market. $BTC $83,600 | $ETH $2,692 August PCE rose 3.4% year-over-year, below the expected 3.7%. Bitcoin briefly surged to $85,598 early this morning, but the 10-year US Treasury yield spiked to 5.3%, wiping out all gains and pulling back to around $83,600. Ethereum also retreated to $2,692, slightly down over 24 hours. The PCE boost was eaten up by the bond market; $85,600 is a strong resistance level. About $199 million was liquidated in the past 24 hours, with shorts accounting for 54.15%. BTC shorts liquidated $60.04 million, ETH longs liquidated $32.15 million. The market has been oscillating between $82,600 and $85,600 for nearly a week, with three failed attempts to break above $85,600. The Fear & Greed Index rose to 74, indicating a "greedy" market, but prices are not rising — this divergence between sentiment and price often signals an impending reversal. For ETH, the current consolidation range is $2,650-$2,800; only a firm break above $2,800 will open the path to $3,000. Discuss in the comments: the PCE boost was eaten by the bond market, does this mean the positive effect is fully priced in? 👇 #10月加息预期回落,今晚PCE成关键 #美债30年期收益率突破5.6%,创2002年来新高 $SOON :Pullback to go long Strategy: · Wait for the price to pull back to the 0.4890-0.4920 range (Bollinger lower band and lower edge of the consolidation platform) and stabilize before entering long. · The target is first to watch the 0.5100 resistance level; if effectively broken, then look at the previous high of 0.5619; stop loss is set below 0.4800. Core basis: 1. Pattern consolidation and accumulation: Since the deep V rebound from 0.4250, the lows have been continuously rising, currently in a very narrow horizontal range near 0.50. The Bollinger Bands are severely contracting, volume is extremely shrinking, which is a typical benign accumulation before a breakout, with a high probability of an upward breakout. 2. Whale chip pressure: The nominal long-short ratio is as high as 655%, the average long cost is only 0.307, with a floating profit of up to 76%; the short cost at 0.3838 is deeply in loss. If the price rises, it is very likely to trigger short squeeze liquidations, pushing the price up. 3. Funds and profit-loss ratio: The funding rate is positive (0.021%), short-term net selling is relatively large, characteristic of a shakeout. The supports at 0.4893 (Bollinger lower band) and 0.4530 are clear, the pullback entry long defense level is clear, and the profit-loss ratio is excellent. #OKXNOW:未来已至,重磅内容正在揭晓 🔥 THE LARGER THE U.S. NATIONAL DEBT, THE MORE REASON BITCOIN EXISTS: “DEBASEMENT TRADE” MAY BE THE BIGGEST STORY OF THE DECADE Sometimes the crypto market looks very simple on the chart, but the real story lies in the money flow behind it. The larger the U.S. national debt, the more the market must debate long-term solutions: raising taxes, cutting spending, nominal growth, inflation, or monetary debasement. Bitcoin becomes attractive because of its fixed supply. What I want to watch is not just a green or red candle. I want to b $PONS is a typical "bull graveyard" with a slow decline! Both retail and large holders are resisting the positions, but the price keeps falling, with long liquidations being 6 times that of shorts. Buying power is exhausted, and major long-term funds are fully withdrawing. The overall trend still points downward for further testing, but beware of short-term rebounds. The strong resistance above is $0.55-$0.58, and the short-term lifeline below is $0.50; breaking below that targets $0.45. Long-short ratio: Everyone is frenzied. OKX retail long-short ratio is as high as 2.55, Binance retail is 1.47. Retail investors are frantically bottom-fishing. For large holders: the number long-short ratio is 1.98, and the large holders' position long-short ratio is as high as 2.3485. Large holders' funds are also heavily committed to stubbornly holding long positions. The entire market is "overloaded" to the extreme; once key support breaks, it is very easy to trigger a "longs killing longs" chain stampede. Fundamentals (long-term advantages and fatal weaknesses): PONS is the leading Launchpad of Robinhood Chain, with 80% of protocol fees used for buyback and burn (about 30% burned cumulatively). It is 100% fully circulating with no unlocking pressure, and Uniswap Labs has invested. Fundamentals are solid, but it heavily depends on on-chain Meme popularity; once the hype cools down, the buyback and burn scale will shrink. $BTC $ETH #10月加息预期回落,今晚PCE成关键 #欧洲央行上线代币化结算平台 In a volatile market, letting go of obsession is the only way to capture profits Bitcoin is stuck between 82,600 and 85,000, while Ethereum fluctuates between 2,640 and 2,740. Those waiting for a one-sided move will only get slapped back and forth. This is not a lack of trend, but the market temporarily choosing a range-bound rhythm. Instead of stubbornly chasing a breakout direction, it's better to accept reality: don't chase highs near the upper boundary, and don't panic near the lower boundary. BTC's 85,000 and ETH's 2,740 are resistance observation points, while 82,600 and 2,640 serve as short-term support references. Before breaking out of the range, high sell and low buy is more practical than waiting for the big picture. But the range strategy has a fatal flaw—breakouts. Once volume breaks out of the range, the previous back-and-forth harvesting must stop immediately and switch to following the trend. When the market doesn't give direction, it gives discipline; only when it breaks out can we talk about trends. Don't look for grand narratives in the noise; turning every retracement into understandable profits is what should be done now. $BTC $ETH #美债30年期收益率突破5.6%,创2002年来新高 The chess clock just reached the second time control when the White House suddenly changed the board coordinates. On September 29, an executive order replaced the old official term with "Superintelligence" in government documents and required agencies to submit federal definitions and legislative proposals within sixty days. This is not just a renaming; it's rewriting the opening moves. Grandmasters faced with such a move don't cheer first; they first look for forced moves: who is forced to follow, who can wait, whose pawn structure is permanently altered. Taking naming rights from the tech community into federal documents is like pushing the queen's pawn to the center. On the surface, it's terminology; in reality, it's a battle for the right to define; the right to define is the initiative. The sixty-day window is like blitz chess with increment; all agencies must submit candidate moves. Tech giants signing voluntary security commitments at the White House is a voluntary pawn exchange, sacrificing some operational space in exchange for the king's castle remaining temporarily closed. But voluntary commitments are never ironclad; they are more like a diagonal line that can be cut open anytime by a rear-wing pawn. The $xLITE linkage is like a rook on an open file. The news is the rear-wing pawn pushing forward; the price is the rook's horizontal line. Note that the naming switch won't immediately change computing power, data, electricity, or regulatory paths; it changes the expected legitimacy and narrative focus. If the board quickly rallies, it's a tactical combination, not a winning position; if it pulls back without breaking key support, then the pawn chain is intact. The real winners don't play move by move but calculate the position twenty moves ahead before placing a piece. The midgame theme here is the intersection of federal definitions, legislative proposals, corporate voluntary commitments, and international competition. If any of these lines are constrained, highly volatile pieces like $xLITE will experience perpetual checks or forced sacrifices. Don't be fooled by the promotion in the headline; the term "Superintelligence" only pushes the pawn to the eighth rank; whether it promotes depends on subsequent rules, budgets, and enforcement. What I am watching is whether the definition text after sixty days tightens responsibilities, whether it grants closed-source giants a bigger moat, and whether it turns security commitments into soft licenses. If the definition leans toward centralization, the leaders gain advantage, and fringe assets are exchanged; if the definition leaves blanks, the market will devolve into chaos. Every move $xLITE makes now feels like searching for the only move amid time panic, with much noise and few forced moves. The most dangerous thing on the board is not the opponent sacrificing the queen but mistaking propaganda for structure. Changing the name from the old term to Superintelligence is like moving the bishop to a long diagonal, extending vision but also making the diagonal easier to block with pawns. Anyone who goes all-in based on a single word is like moving the king into the opponent's rook file in the endgame. The midgame of this match has just begun; sixty days is not a countdown but the second round of sealing the game. True masters have already noted every candidate move, while the market is still debating whether the new name sounds good. #TrumpRenamesAItoSI $FIL FIL 10.15 supply reduction is a clear positive, but the expectation has already been priced in, and the market has yet to rally. Good news without a price increase = capital does not recognize it. Supply reduction ≠ demand increase; without real demand materializing, it's hard to drive the market up relying solely on a deflation narrative. While altcoins in the market repeatedly double, FIL is still grinding at the bottom of its range. Experienced traders say: if good news lands without a rally, don't stubbornly hold on; distinguish strength from weakness, learn to rotate positions, and don't miss out on this structural market move.$BTC $ETH $ZEC ZEC dropped 200 points a couple of days ago, won't it pull back again? I haven't exited, reduced half my position waiting for a V-shaped rebound, no new long positions. The only good news is that the long-short ratio is no longer as extreme as before. The bulls' profit-taking is also slowly exiting. Firmly bearish in the long term, just keep adjusting positions to average the price. Spent a whole month on ZEC, give it some strength, looking forward to a waterfall drop, a 50% cut. BTC and ETH currently have serious long-short divergence, waiting for the market to clarify before entering.The Strait of Hormuz is the main load-bearing pillar of the global energy system, and right now its concrete protective layer is peeling off, while the construction crew for indirect US-Iran talks has just arrived, with even the scaffolding not yet properly set up. Qatar acts as the supervisor, discussing three pipelines: strait passage, removal of maritime blockade, and nuclear issues, but the structural mechanics models of the two sides don’t align on which beam to move first or which slab to pour later. Anyone who has worked on supertall projects knows the biggest fear isn’t an ugly design but failing to agree on the sequence of operations. Should the load be removed first or should the nodes be reinforced first? If the order is wrong, the entire building could experience a progressive collapse one morning. The Doha talks are now stuck on this sequence dispute — this is not a minor detail disagreement, but a fundamental conflict over whether the foundation or the superstructure should be constructed first. Limited room for compromise means both sides’ material reserves are already close to their yield points; any misjudgment will cause irreversible plastic deformation. Brent crude oil is hovering near $100 per barrel; this is not just a price, but a prestressed steel tendon in the global inflation structure that has been stretched too tight. It hasn’t snapped yet, but everyone is watching the strain gauges. If shipping is interrupted again, inflation expectations will be re-tensioned, and the anchoring nodes of the interest rate path will be forced to be rearranged — yet the market’s current seismic rating assessment of this structure is clearly still based on old standards. Regarding the tokenized US stock $xAMZN, one thing must be clear: its value does not come from that shiny curtain wall, but from Amazon’s own cash flow, cloud business, and logistics network’s underlying framework. The token merely slices it into smaller prefabricated components put on-chain for easier hoisting and transfer, but the load path remains unchanged. When energy risks push inflation up and interest rate expectations are repriced, the first cracks always appear in those places that only serve as facade decoration without redundant support. The real load-bearing walls are in the energy channels, transportation costs, and the shear walls of the entire supply chain. Everyone is now waiting for a change order: whether the construction permit to lift the maritime blockade will be approved first, or the foundational reinforcement for the nuclear issue will be accepted first. Whoever moves first defines the building’s construction logic. #USIranTalksRestart A BTC long position worth 37.78 million USD is currently at an unrealized loss of 310,000, yet he is still adding to the position. Would you dare to keep stacking positions while in an unrealized loss? I watched the position changes at 14:30 on September 30th for a long time. Maji increased his BTC position by about 233 coins, bringing the total to 455 coins, with an average entry price of 83,748 USD and a liquidation price set at 77,184. On the ETH side, the position is even heavier, adding 3,000 coins for a total of 36,000 coins, with an average price of 2,674 USD and an unrealized loss of about 348,000. Interestingly, HYPE was reduced by 25,000 coins, with the average price dropping from 92.17 to 90.85, resulting in an unrealized loss of 1.06 million. The interesting part is not the size of the numbers, but what he chooses to add and reduce. BTC and ETH positions are being increased, while HYPE is being cut down. This is not a casual portfolio adjustment but more like a statement of capital preference, with money moving towards higher certainty and sidelining marginal narratives for now. The BTC position is valued at 37.78 million, the ETH position at 91.69 million, with the ETH exposure more than twice that of BTC, indicating that he is not really betting on "Bitcoin alone rising," but rather on the overall recovery resilience of mainstream assets. But there is a second layer hidden here. The entry price is 83,748, liquidation at 77,184, leaving about a 7.8% buffer. On the surface, the buffer doesn’t seem thin, but he himself mentioned that actual liquidation won’t really reach that point because the ETH position will also affect the margin. In other words, the two positions are tied together; a drop in BTC will drag down the safety cushion on the ETH side, and vice versa. This kind ofThe nine consecutive days just ended, FBTC first dumped a shadow of 126 million — will the nine-day streak break, or is it just one redemption? Spot BTC ETF: Net inflow on 9/29 was about +66.2 million (nine consecutive days), with IBIT contributing more than half; on Farside as of 9/30, FBTC has already shown −125.6 million, the total on the table also shows this number first, but IBIT and others haven't fully reported yet — the headline either shouts "the end" or "not fully reported, don't panic," now is the right time to clarify. My own stance (not a single order): ① The daily flow on incomplete days is not the final outcome, don't write off the entire market collapse based on one redemption; ② The one from Morgan Stanley just broke 10,436 BTC (about 875 million), channel accumulation and single-day redemption can coexist; ③ Before Friday's non-farm payroll consensus of about 84,000–90,000 and unemployment rate of 4.1%, it's important to avoid making moves or taking sides. Public sources: Farside, SoSoValue/ChainCatcher, TokenPost, OKX order book. What do you think: A End of nine-day streak, reduce first / B Wait for IBIT to fully report then criticize / C Don't move before non-farm payroll?$ZEC: Short on rebound Strategy: · Wait for the price to rebound to the 1426-1430 range (Bollinger middle band and short-term resistance zone) and then enter short after resistance. · The target is first at 1407 (chart support level); if broken effectively, then look at the previous low of 1390. Set stop loss above 1440 (Bollinger upper band). Core basis: 1. Bollinger band bearish pressure: The 15-minute Bollinger middle band (1426.46) is sloping downward, price rebounds are continuously resisted below the middle band, short-term moving averages are in a bearish arrangement, with obvious upper resistance. 2. Lowering of the pattern's high points: After a sharp decline from the high of 1493.94, recent rebounds have failed to break previous highs, lows are continuously moving down, currently in a typical downtrend continuation pattern, bulls are unable to reverse. 3. Resistance and volume coordination: Strong resistance at 1468.53 above, and once the support at 1407.33 below is broken, downward space will open. Decline with increased volume, rebound with decreased volume, bearish momentum dominates, shorting with the trend offers the best risk-reward ratio. #美伊谈判重启,双方让步空间有限 Hyperliquid Labs initiates monthly core team token release, unlocking approximately 37,500 $HYPE (valued around $320-329 million), all sold via over-the-counter (OTC) to a single institutional investor, not entering the public market. 【Source: Co-founder iliensinc's explanation on Discord, reported simultaneously by multiple media outlets.】 👉🏻Short-term impact This unlock accounts for about 1.5% of the current circulating supply. If dumped directly, there would definitely be short-term pressure. The team chose to sell the entire batch OTC to an institution, thus avoiding sell pressure on exchange order books. Large releases like this often cause volatility, but this time the impact on the public market is significantly reduced. The price may initially experience emotional disturbance, but the actual downside is limited, and it might even be interpreted as relatively positive due to the "institutional takeover." 👉🏻Long-term impact Core contributor shares account for about 23.8% of total supply, with planned continuous monthly releases. The team’s proactive use of OTC to absorb supply also indicates they are controlling the circulation supply rhythm to avoid repeatedly shaking market confidence. If the institution holding the tokens chooses to hold or sell in batches, long-term selling pressure will be more dispersed. Coupled with the protocol’s own buyback and burn mechanism, supply-side pressure is relatively controllable. Ultimately, the long-term trend depends on trading volume, revenue, and ecosystem growth. 👉🏻Overall assessment Overall, slightly neutral to bullish📈. The unlock itself increases supply, but OTC handling largely offsets short-term bearish factors, and institutional entry also indirectly indicatesConclusion first: The 19% move in $STX today is not an emotional impulse, but capital choosing a direction. Data: On 9-30 at 20:00, the 4H candle surged from 0.321 to 0.344, with a single volume of 19.7 million tokens, more than 20 times the average volume of the previous four candles (less than 900,000). Then continuous volume pushed it to 0.389, with 24h trading volume of 68.5 million tokens ≈ $26 million. BTC at 83.5K didn't move; this 19% gain is purely self-driven. Funding rate is 0.0001, neither longs nor shorts have overheated; this rally hasn't reached the leverage squeeze stage yet. Background: Stacking is the largest Bitcoin Layer 2 on-chain. The narrative of DeFi capital migrating to the Bitcoin ecosystem is heating up. Today's volume breakout looks more like a rotation starting point, not the last train. Key levels: 0.34 is the breakout starting point; a pullback that doesn't break below it is a strong structure; 0.39–0.40 is a psychological barrier. Holding above 0.35 on the 4H chart, the next target is 0.42. How far do you think this Bitcoin L2 rotation can go? $STX $BTC Every time it stands near 82000, there is an illusion of "holding steady." But in fact, this is precisely the moment to be most cautious. The dog whales' favorite trick is to paint a big picture for you and then strike back when you let your guard down. $ETH is equally hard to predict. The 2650 support line has already been broken once, with a low touching 2626. If it breaks through 2580 again, the downside space will likely be further opened. 📊 PCE data has been released, and the market reaction is lukewarm; the rate hike expectations have already been fully priced in. What really needs attention now is Micron's after-hours earnings report. This earnings report is more direct than any macro data! Whether AI chip demand is strong or not, the direction of tech stocks depends on it. If it falls short of expectations, the US stock market could shake the crypto market along with it at any time. #财报观察员:美光财报临近,AI存储需求成焦点 #美债30年期收益率突破5.6%,创2002年来新高 #美伊谈判重启,双方让步空间有限 Soft inflation surged to 85,600, while hard US bonds were pushed back to 83,500 — which side to trust? Core PCE is out: rate +0.2%, year-on-year +3.0%, slightly softer than 0.3%/3.3%; the odds of a rate hike in October have also dropped to about 35%. BTC indeed touched OKX's high around 85,650, with roughly 55 million liquidated on shorts nearby — then the 10Y yield peaked around 5.3%, almost wiping out gains, and the Asian session dipped back to 83,500 with some consolidation. My own non-trading advice: ① "miss" does not mean inflation is dead; year-on-year is still far above 2%, and BEA revised data on the same day; ② don't chase a false breakout, treat around 85.6K as the upper boundary for now; ③ the real trigger is tomorrow night’s nonfarm payrolls, so reduce positions to sleep well. Sources: BEA, OKX order book, Odaily/FedWatch. Poll: A Bonds pressure is the real boss, 85K is a false breakout / B Rate hike expectations are down, time to get back in / C Lie low before nonfarm?$ZEC was too strong last night. The second wave hit stop losses. Thought it would surge again, but it didn't. Need to be cautious going forward. A typical high-level shakeout scenario of “retail panic shorting, whales holding on to absorb, and main funds withdrawing massively.” The overhead trapped positions are extremely heavy. From the contract data, the market currently has a high proportion of shorts. If the price breaks through the key resistance level, it may trigger a short squeeze. But if it falls below 350, watch out for short-term correction risks. Focus on volume and the breakthrough of the 1500 resistance level. Long-short ratio: Retail panics and shorts, whales hold long against the trend (a battle of titans). Binance retail long-short ratio is 0.6359, OKX retail long-short ratio is 0.78. Retail investors are scared by the recent drop, mostly bearish or on the sidelines. Whales: whale count long-short ratio is 0.6095, but whale position long-short ratio is as high as 1.2852. Whale funds are heavily holding long positions against the trend! If the price breaks the whale stop-loss line, it will trigger a brutal "longs killing longs" scenario. $BTC $ETH #10月加息预期回落,今晚PCE成关键 #财报观察员:美光财报临近,AI存储需求成焦点 MOVR current price is 2.3090, consolidating at a high level, with a huge volume of long positions being liquidated at 2.317 above, and short positions also accumulating overhead. This position is very awkward, with both bulls and bears betting, and volatility can expand at any time. The overbought signal has already appeared, making chasing longs very low in cost-effectiveness. Just wiped the dust off the guard booth windowsill, the walkie-talkie next to it didn't sound. The strategy is straightforward: short in batches between 2.30 and 2.315, set stop loss at 2.335, first target at 2.24, second target at 2.18. If there is a volume breakout above 2.335, reverse to lightly chase longs, target 2.40, defend at 2.30. The liquidation map doesn't lie; the cluster of long positions at 2.317 is the biggest trap, once triggered, the downside can't hold. Don't hold positions, don't fantasize, execute when the time comes. $MOVR #美债30年期收益率突破5.6%,创2002年来新高 @OKX星球 The stratigraphic profile has already carbonized; this is not some kind of bottom building at all, but the ruins of Pompeii just buried by volcanic ash. The moment my probe shovel touched the geological fault at $ZEC 1419.61, I smelled the familiar scent of decay. This K-line is curled up below the Bollinger Band middle line at 1430.54, much like those ignorant believers before the Common Era who thought sacrificing two oxen could avert drought. They called every drop a “healthy correction” and every volume contraction “accumulation by the big players.” Open the debt default clay tablets from ancient Rome two thousand years ago, and you’ll find the exact same words. The 1-hour RSI hangs awkwardly at 47.2, neither a pit of extreme fear for a funeral nor a golden coffin of extreme greed. The funniest part is, every time I see my account balance shrink in sync with the lower shadow, I feel like I’m not doing finance but rather paying out of pocket to create burial goods for future archaeologists. At least a thousand years from now, when future people dig up my cold wallet, they can point at those zeroed records and sigh: "Look, how peacefully this ancestor was trapped." The rammed earth layer below at 1395 is shaky, and the massive stone dome above at 1466 forms heavy pressure. Since history always repeats this farce of greed and destruction, before the mud and sand mix, I’ll be a cold-blooded gravedigger following the ancient path. - Target: $ZEC 🔴 - Entry: 1418.00 - 1432.00 - TP1: 1395.00 - TP2: 1360.00 - SL: 1450.00 Once wind erosion crosses the middle band warning line, the collapse of the entire temple will take only the time it takes for a stone to fall. 🏛️🔍 #StrategyPlaybook$BTC gained over 40% this quarter — the strongest since Q4 2024. Impressive. But we don't trade what has already happened; we trade what is coming next. Here’s what I’m watching: • U.S. Treasury yields remain near multi-decade highs — a headwind • Oil prices stay firm — making inflation more "sticky" • Spot demand is cooling • Profit-taking is heating up, exchange inflows are rising • Technical structure? Still corrective A strong quarter doesn’t automatically confirm a new bull market. I’ve been in the market long enough to know that. The macro backdrop and structure matter more than this rebound itself. Heading into Q4, I’ll stay open but disciplined. The current evidence still leans cautious — seeing new $BTC lows before the next real leg up wouldn’t surprise me. Trade probabilities, not stories. Respect structure, manage risk, stay patient. $ZEC $ETH Currently, two long positions are simultaneously retracting, with the HYPE position floating a loss of over 30,000 U, a pullback exceeding 20%, at 4 times full position, which is a key trial-and-error position in a speculative market; the SNDK small position is floating a loss of over 1,000 U, with a slight pullback of 8%. In trading, it is impossible for all positions to move favorably at the same time. These two layouts are bets on a rebound rally; the short-term market did not go as expected, resulting in floating losses on the books. Floating losses do not equal final losses; the key is whether the subsequent market can provide opportunities. Under full position mode, margin maintenance must be closely monitored, reserving space to respond. The essence of trading is trade-offs: some positions follow the trend, some accept the cost of trial and error. When the market offers no opportunity, one must decisively exit without hesitation. Always prioritize account survival first. $BTC $ETH $ZEC #10月加息预期回落,今晚PCE成关键 #财报观察员:美光财报临近,AI存储需求成焦点 #美债30年期收益率突破5.6%,创2002年来新高 $BTC Bitcoin really can't break through, just like I said yesterday, breaking 85000 was just a flash in the pan Today it’s like a deflated balloon, continuously oscillating downward. At this rate, it will soon reach 82500; breaking below is just a matter of time Bitcoin has been oscillating for a week and still can't break out of the trend. Will it be able to break through below this trendline? $ETH Ethereum is holding up better today. After a sharp surge last night, it quickly fell back and formed support around 2670 The market looks strong, showing a bit of an oscillating upward trend, but this situation is mostly a bull trap; entering now might get you stuck at the top The main support below is at 2650. If this level breaks, it will be a waterfall decline, and all hopes will vanish🪜 SOON Is Taking the Stairs, Not the Elevator $0.20 to $0.50 in five days, up about 146%, one step at a time: base, pause, breakout, repeat. A cryptic CZ post and an AI trading platform teaser added fuel. But futures volume runs several times spot, only 60% of supply circulates, and the next unlock lands October 23. Hold $0.47 and $0.563 is next. Lose it and $0.42 comes first. Up the stairs, down the elevator. Next step or elevator? Not financial advice. $SOON $ZEC $BTC $ETH: Buy on pullback Strategy: · Wait for the price to pull back to the 2675-2685 range (near the Bollinger middle band and support level) and stabilize before entering a long position. · The initial target is 2715 (resistance level); if this is effectively broken, then look towards the previous high at 2737. Set stop-loss below 2656 (24-hour low). Core basis: 1. Technical extreme low volume reversal: The 15-minute Bollinger Bands are extremely tight, with price consolidating narrowly around 2688, building momentum. Recent candlestick lows have been rising (2656→2670→2680), and the price has already risen above the Bollinger middle band, facing a short-term breakout point. 2. Short squeeze expectation on the chip side: The whale nominal long-short ratio is as high as 274%, with a solid long base position (unrealized profit 68.9%); meanwhile, shorts opened at an average price of 2630 are deeply in loss. Once the price moves up, it is likely to trigger short stop-loss cascades, driving a short squeeze rally. 3. Resistance and risk-reward ratio: There is obvious selling pressure at 2715 and 2737 above, requiring volume to break through directly. But the support at 2656 below is clear; buying on pullback to the middle band support with a clear stop-loss level offers a favorable risk-reward ratio. #美伊谈判重启,双方让步空间有限 ETH has a real ecosystem: DeFi TVL is close to $53 billion, on-chain stablecoin supply is nearly $147 billion, and staking regulations clearly do not constitute securities issuance. These are all true. But ETH also has real issues: Trump's geopolitical uncertainties, a 9-year whale selling at 156x profit, ETF inflows turning to outflows for the first time after seven consecutive days, and 73% of retail traders crowded on the long side. 2648 is the lifeline. Holding it allows room for volatile recovery. Breaking below it, 2604 becomes the graveyard for the next batch of bulls. Don't talk about bottom-fishing on the night the 9-year whale sells. First, see if 2648 can hold. (The above content does not constitute investment advice. The market has risks; only those alive have the right to talk about the future.) $ETH $BTC $SOL #10月加息预期回落,今晚PCE成关键 #财报观察员:美光财报临近,AI存储需求成焦点 #美债30年期收益率突破5.6%,创2002年来新高 $ETH 【Box Range Oscillation Thoughts 05】 The most important major-level first support right now is actually at: 2600~2650 This position is very critical. The monthly MA20 is around 2644, the quarterly MA10 is about 2642, and the weekly box low is near 2633. This means: 2630~2650 is not just a simple hourly low point, but a cost zone overlapping monthly and quarterly moving averages. So previously, I always felt 2633 was very strong, and now looking at the larger cycle, this feeling is justified. Once 2633 holds, the major structure is still intact. But if: The weekly level effectively breaks below 2600 and the rebound cannot recover, then we need to look at the second layer of support. Second major support: 2400~2450 If you keep your money in a CEX, it can be stolen; if you put it in DeFi, you might not be able to withdraw it. Small exchanges in the crypto world really aren't trustworthy. Except for Binance and OKX, the others are small exchanges. Even if you want to play, you should only enter with a light position. For other small exchanges, if user funds are stolen, the exchange owners may not be willing to compensate. But big exchange owners, even if it's for future repeated games, will be willing to compensate. For DeFi protocols, only the top ones like Aave and Uniswap are worth playing with; others are not. Unknown protocols are developed by amateur teams, so don't have any illusions. In a bull market it's okay, but in a bear market they will run away directly, giving us users a bunch of excuses and reasons. Right now, I only keep my coins on OKX and Binance, and try to avoid protocols. I'm worried that if something goes wrong with a protocol, the project team will say: "We are decentralized, permissionless, and ungovernable." Then my funds are doomed. I still prefer to find responsible parties. The decentralized path in crypto is long and arduous.9.2 billion USD stacked on Hyperliquid, with shorts exceeding longs by nearly 600 million. I was a bit stunned when I first saw this data. Long positions are 4.3 billion, short positions 4.9 billion, ratio 0.88. In plain terms: there are more people betting on a drop than on a rise right now. The most eye-catching is that 5x full-position short $ETH whale, who entered at 2304 USD and is now floating a loss of 40.4 million. These numbers can be shocking for newcomers. But what I want to say is, don’t just look at his loss. The fact that he dares to heavily short at this level means some really think $ETH is overpriced. And overall, the short positions are still profitable, making 588 million. So in this market, it’s not a one-sided crush. There’s a big divergence among major funds. The biggest mistake newcomers make is thinking they can do well just because a whale is losing money. Losing 40 million versus losing 4,000 is a completely different mindset. I’m leaning towards watching this data. Both longs and shorts are increasing, which means the direction isn’t decided yet. To be honest: rushing in at times like this mostly just pays fees to both sides. #BTC现货ETF周流入创近一年新高 #Strategy再购BTC,多家财库同步增持 #Aave支持代币化美股抵押借USDC $ETH 10.1 Morning Express|Long and short both hit, don't chase the pulse Last night PCE was dovish, market sentiment instantly surged, BTC jumped from around 83700 to 85650, but the rally only lasted 4 hours, the gains were fully given back, and it returned to around 83500 to consolidate. A textbook case of buying the expectation and selling the fact: first triggering a short squeeze, then pulling back to trap the longs chasing higher, a long upper shadow candle harvesting both sides. The pulse triggered by news does not equal an effective breakout; a single inflation data point only fuels short-term sentiment. US Treasury yields have not broken trend, geopolitical risks remain, so it can't support a one-sided big rally. Strategy: mainly buy the dip, don't chase highs. Consider after a stable pullback to 82700-83500, resistance is at 85500, wait for the market to give a real breakout confirmation before acting. $BTC Trump urged the Senate to push a clear bill, but the bill was still rejected in the Senate, and the policy stimulus only maintained an emotional pulse. Coinbase obtained CFTC approval to settle USDC native derivatives, which short-term added liquidity expectations to the market, but BTC did not directly benefit logically. From the chart, the one-hour moving averages are still in a bullish arrangement, but a large number of short positions are accumulated between 87000 and 88000 for liquidation chips, forming a liquidity zone. This position usually does not break through directly but first sweeps out short positions upward, then uses crowded high-leverage long positions to pull back and shake out. Just climbed six floors and put the meal at the door, the phone is still vibrating. Looking at the liquidation chart, longs and shorts are crowded around 83500. So do not chase highs. If it first retraces to 82800 to 83200, you can lightly go long, defend at 81800, and take profit at 86500. If it directly pulls above 87000 and stagnates, reverse to short, defend at 88400, and take profit at 83500. $BTC #财报观察员:美光财报临近,AI存储需求成焦点 @OKX星球 The primary goal of trading is not to maximize profits, but to maximize the probability of survival. Position size, cash, and the system—all essentially do the same thing: leave room for the future. The real contest is not about who wins the most, but who lasts until the end. The market never lacks opportunities; what’s lacking is whether you still qualify to participate when the next opportunity arises. Many people study trading thinking: how to find better opportunities, how to increase win rates, how to make more money. But in the end, trading reveals a more important question: do you have the ability to stay at the table? Therefore, the greatest wisdom in trading is not offense, but to always leave yourself some margin. $BTC $ETH $ZEC #10月加息预期回落,今晚PCE成关键 #财报观察员:美光财报临近,AI存储需求成焦点 #特朗普签署行政令将AI更名为SI $ICP AI narrative retreat linked pullback At the end of September, relying on established public chains + AI infrastructure narratives to complete a catch-up rally, after the market surged at the end of the month, it fell back in sync with the overall AI sector retreat, lacking its own driving positive factors and independent support funds. Key levels: • Support: 3.2 (platform defense support this week) • Resistance: 3.5 (short-term strong resistance level)I also set it up according to your suggestion. But I didn't use leverage, just 1x leverage. The annualized return is roughly around ten percent. Later, I checked a bit and used GPT to look it up; the main reason is probably the slippage issue. Since your trades are all short-term and sometimes the depth isn't enough, the cost for copy trading varies a lot. The main problem is still the design of the copy trading product.$UNI is neither rising nor falling right now; it's holding back. The Bollinger Bands are only 0.38 USD wide, with 8.45 as support and 9.2 as resistance. Whichever side breaks first will decide the direction.After $BTC broke below the previous rally range, where can the buying support still hold? This morning, OKX BTC/USDT spot 24-hour range was approximately 82,960–85,650, with a trading volume of about 676 million USDT, and the price was in the lower half of the range. A single-day pullback does not prove a trend reversal, but if high-level buying continues to retreat, leveraged liquidations will amplify volatility. If the 1-hour chart shows volume reclaiming 85,650 and holding on the pullback, I will increase my assessment of a recovery; if 82,960 breaks and the rebound is on low volume, I will continue to view it as risk release. Going forward, it is necessary to monitor both spot trading volume and derivatives funding rates.Continuing to hold long positions! $ETH short position opened at an average price of 2676.18 and closed at 2693.43. Due to the use of 100x ultra-high leverage, ETH price only rose about 0.64%, which caused this position to suffer a massive loss of -69.70%, with an actual loss of 559.64 U. The holding time was only about 2 hours, indicating that the short-term short position encountered a price rebound and was forced to close due to the inability to withstand the rapid loss caused by high leverage. Under isolated margin mode, the loss is limited to the margin of this position and does not affect the overall account. $BTC short position opened at an average price of 83938.3 and closed at 84419. Similarly, with 100x leverage, BTC price only rose about 0.57%, resulting in a huge loss of -62.04%, with an actual loss of 2083.29 USDT. This trade was held for about 2.5 hours, with a wrong directional judgment, encountering a short-term BTC rally. Due to the large position size (4 BTC), the absolute loss amount was high, representing a typical case of ultra-high leverage position failure.Brothers, can $ETH still rise? I don't think so. Since last week when the crypto giant BTC surged to 87,000, the hype has passed, and the entire market's trading volume is shrinking with no united capital force. ETH has been tugging back and forth around 2,700, trying three times but failing to hold, with heavy selling pressure above. Just look at the market cap: $BTC has now dropped to 83,486, down 0.73% in 24 hours, with capital volume only 7.4 billion USD. $ZEC is down 1.50%, SOL down 0.96%, and the entire crypto leaderboard is in the red. This is not an isolated event; it's a systemic correction. No one is catching at the highs, so the only direction left is down. Technically, ETH's MACD is stagnating at a high level above 2,700, RSI is weakening, and bullish momentum is clearly exhausted. The key support below is 2,650; if it breaks, the next support is 2,600. The resistance at 2,750 is a solid ceiling; failing to break through is a shorting opportunity. I'm holding my short position opened at 2,713.73, with a floating profit of 2.14%. The SOL short is also in profit. I only do short-term trades, take a bite and run, never lingering in battle. #10月加息预期回落,今晚PCE成关键 $ETH 【Box Range Consolidation Thoughts 04】The monthly SAR is around 3410, which will form a longer-term technical resistance in this area. This is not a position to trade immediately, but if the trend continues after breaking through 3000 in the future, this area will come into view. So the pressure level ranking: First resistance: 2787~2830 Second resistance: 2980~3050 Third resistance: 3400~3500BTC daily chart overbought with 4-hour death cross, don't rush to buy the dip this time Market snapshot: Current price 83458, almost flat in 24h (-0.004%), high 85650, low 82956, low volume narrow range oscillation, direction unclear. Technicals: Daily RSI 74.1 has entered overbought territory—overall bullish trend is correct, but the short-term rise was too sharp, chasing highs has low cost-effectiveness. 4-hour MACD is golden cross, but moving averages are in a bearish alignment, MA50 (84137) is pressing the price down. 1-hour MACD just formed a death cross, MA20/MA50 are converging around 83600, Bollinger Bands narrowing. Resistance above at 87395, support below at 74967, short term watch if the lower band at 82791 can hold. Capital: Large holders' long-short ratio is 2.09, bulls are clearly crowded, retail investors are also mostly long—this structure is prone to stop hunts and shakeouts. Funding rate 0.0075% is not extreme, but open interest is nearly 96,000 BTC; a sharp drop could trigger cascading liquidations. Don't catch the knife at the top. Today's focus: Fear & Greed index at 74, in greed zone. Weakness on the rally + daily overbought + crowded longs, I lean bearish expecting a pullback. Strategy: wait and see or light short positions, consider longs again near 82700 on the dip. What’s your take? Discuss in the comments. Updated daily at 8 AM, follow to stay on track. #BTC #比特币行情 #技术分析 #合约资金$BTC Volume, VWAP, and Institutional Capital Flow Analysis Key Conclusion: Volume expanded to 109.95M USDT, accompanied by a bearish candlestick, confirming the nature of a "volume-driven decline." This suggests institutional capital engaged in panic selling or passive stop-loss during the breakdown. VWAP (84,295.3) remains high, with intraday capital losses across the board. Under the baseline scenario, after a volume contraction and consolidation, a directional choice is highly likely. Volume and Capital Depth Deduction: Volume is the core evidence revealing the truth behind the breakdown. From the VOL (USDT) histogram at the bottom of the screenshot, it can be seen that during the decline from 16:00 on September 30 to 08:00 on October 1, multiple significant red volume bars appeared. The current 1-hour trading amount is 109.95M USDT (equivalent to 1.3k BTC). In a downtrend, this sustained moderate volume decline is the most damaging, representing institutional capital orderly and continuously withdrawing rather than retail panic selling. Considering VWAP14 (84,295.3), the current price of 83,486.5 is far below VWAP, meaning nearly all active buy orders are at a loss intraday. VWAP has become an extremely heavy "resistance line," and any rebound failing to break through VWAP with volume will be an invalid rebound. Looking at the Basis (spread) reported at 84,279.0, close to VWAP but slightly below UB (85,639.0), it indicates a clear discount structure in the perpetual contract market, with bearish sentiment dominating pricing power. The microstructure of capital flow shows that a large amount of long positions accumulated during the 84,000-85,000 range consolidation triggered a chain liquidation after breaking the 84,000 support. AVL (83,564.6) is slightly above the current price, indicating the short-term average price line is attempting to provide support, but its strength is questionable. The current capital conclusion is: this is a "deleveraging" process jointly triggered by macro liquidity tightening and key technical breakdown. Until an extreme "panic volume spike" occurs or a "volume-driven bullish candle" recovers VWAP, the capital flow does not support a trend reversal. Traders should closely monitor volume changes near 82,618.9; if volume contracts on a retest without breaking down, a short-term bottom is expected. ---$AAVE: Bullish surge followed by a pullback! Top-tier narrative but shrinking market share poses concerns Track narrative at the ceiling level: Aave V4 Equities Hub launched, supporting collateralized lending with 7 Coinbase tokenized stocks including Apple, Nvidia, Tesla; founder officially announced Aavenomics 3.0 will add a burn mechanism, upgrading protocol value capture, platform TVL rebounds to $19 billion. But a fatal weakness lurks: market share continues to shrink, lending track market share dropped from 59% at the start of the year to 41%, daily protocol revenue shrank by 39%, the effectiveness of the burn mechanism depends entirely on revenue recovery, which is uncertain. Key price levels: • Support: 145-150 (core breakout structural support) • Resistance: 168-175 (double top strong resistance), breakout opens 195-205 upward space • Intraday range: 150-166 • Intraday stop-loss watch: 144 The monthly close did not provide a clear direction; the real danger is that everyone is rushing to bet on the next trend. @阿懿.Bit's core judgment is straightforward: $BTC is still within the range, and the short-term can only be treated as "oscillating with a bearish bias"; until the key level is effectively broken, any premature heavy short positions or bottom fishing may just be paying fees for a repeatedly stop-loss-triggering market. He first highlights the special rhythm at the end and beginning of the month. Around the monthly close and open, the market often experiences ups and downs, and the data week further amplifies noise. This phase is not without opportunities, but they tend to be ultra-short-term: when it moves, it moves—you can't switch to a trend trade just because of a floating profit. BTC was still trapped roughly between 82,500 and 85,000, with 83,200 repeatedly mentioned in the live broadcast as a key short-term level, but it acts more like a reference within the range, not a confirmation of a major trend from a single breakout. His subjective direction has started to turn bearish, but he did not write "bearish" as "immediately short." The reason is simple: daily chart bearish divergence can signal risk but is insufficient alone as an entry signal; if the price does not provide a suitable position and structure, even a correct directional judgment can be worn down by oscillations. 阿懿 emphasizes that the real focus should be near 82,000: if it is effectively broken later and the rebound fails to recover, the bearish logic will clearly strengthen, and only then will he consider adding shorts after confirmation. The short positions near 85,500 should have taken partial profits on the downside instead of giving back profits due to subjective bearish bias.$ETH 【Box Range Oscillation Analysis 03】Looking at the weekly, biweekly, monthly, and quarterly lines together, ETH is currently stuck near a major-level pivot zone, so the area around 2680 looks quite tough. It's not that there's no direction, but rather that key cost zones from several cycles overlap here. The most important first resistance zone now is 2800–2830. On the weekly chart, the upper BOLL band is already around 2821, and the previous hourly highs are at 2787 and 2806. These levels overlap to form a clear resistance band. In other words, 2748 is just the short-term upper boundary of the box range; only breaking above 2800–2830 counts as a major-level breakout into new territory. Therefore, I define: 2787–2830 as the first major resistance zone. If this area is effectively broken on the weekly level, the next resistance layer is: 2980–3050 The biweekly BOLL upper band is roughly at 2987, and 3000 is a natural round number barrier. This level will be harder to break than 2800. If ETH can truly hold above 3000 later, the market nature will be clearly different. Looking further up, the third major resistance is: 3400–3500#10月加息预期回落,今晚PCE成关键 The biggest change in the market over the past two days is the significant cooling of expectations for a rate hike in October. The CME FedWatch probability for a rate hike has dropped below 40%, with funds preemptively betting on a "pause in rate hikes" this time. However, don't take this as a complete shift to dovishness; tonight's core PCE is the key determinant, as it is the inflation indicator the Federal Reserve values most. ✅ Three data scenario forecasts: 1. PCE below expectations (bullish for BTC): Inflation continues to decline, further solidifying no rate hike in October. U.S. Treasury yields come under downward pressure, risk assets get a rebound window, and BTC is likely to see an upward correction. But remember, even if the data is soft, core PCE is still some distance from the 2% target. A pause in rate hikes does not mean an immediate rate cut, so don't blindly expect too much upside in the rebound. ​ 2. PCE meets expectations (sideways market): Data matches market estimates, making it difficult to break the current pattern. The market will likely oscillate back and forth with no sustained trend for bulls or bears. It's best to stay on the sidelines and avoid chasing gains or selling in panic. ​ 3. PCE above expectations (bearish pullback): Inflation stickiness exceeds expectations, rate hike expectations rise again, U.S. Treasury yields climb back up, BTC comes under pressure and pulls back, with a quick short-term correction likely.10.1 $BTC $ETH Market Notes Do not mistake a rebound for a reversal! This correction is a shorting opportunity. The market is currently in a volatile correction phase, with the long-term cycle falling from the peak, and the overall wave structure maintaining a downward trend. This round of rise is a secondary rebound during the downtrend. The core market judgment: as long as the previous rebound high cannot be broken, the major trend remains bearish. Short position range BTC: 84200-84400 ETH: 2710-2720 Entry condition: When the rebound reaches the range and shows weakness in the upward attack with a long upper shadow candle, consider trying a short. Targets First target: BTC 83400 | ETH 2670 Second target: BTC 83000 | ETH 2650 In summary: A rebound is not a reversal; every rally in a downtrend is a shorting opportunity. #BTC成交萎缩,ETF买盘能否回暖 #ETH冲高2700美元,质押与资金面现分化 #交易之声:你的经验值得被听到 Long and Short Crowding List|Last 15 Minutes $CT Short side unit time holding cost is relatively high: current 4-hour rate -0.3109%, price +1.27%, open interest +3.49%. Price rise accompanied by increased positions; holding short positions through settlement faces both adverse price movements and funding fee expenses. $NIGHT Short side unit time holding cost is relatively high: current 4-hour rate -0.037%, price -0.19%, open interest basically flat. Price decline not accompanied by significant position increase; holding short through settlement at current rate, funding fees will lower the breakeven price.