ETH Funding Rate Turns Negative Amid Price Dip Below $3,600 as Retail Buyers Step In
Main Idea
The ETH funding rate turned negative as its price dropped below $3,600, with retail investors buying the dip, while Bitcoin faced selling pressure below $116,000.
Key Points
1. ETH funding rate turned negative below $3,600, signaling a potential buying opportunity, with retail investors purchasing ETH during the dip.
2. Retail investors absorbed most of the $115.8 million in long liquidations but quickly bought ETH around $3,600, stabilizing the price.
3. Bitcoin encountered sustained selling pressure below $116,000, contrasting with ETH's relative strength.
4. Negative funding rates indicate oversold conditions and often precede upward price movements, suggesting traders expect an ETH rebound.
5. The ETH/USDT liquidation heatmap shows intense selling near $3,900 and critical liquidation levels at $3,600, highlighting key risk zones for traders.
Description
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