BTC Price Rebounds Amid Bear Market, but Risks Remain High
The price of BTC has been in a state of decline, but yesterday saw an accelerated drop. However, after reaching key support levels, buying pressure emerged and prices rebounded slightly.
Despite this recovery, the overall bearish structure remains intact. A closer look at the charts reveals that while ETH's rebound was stronger than BTC's, its long positions are becoming increasingly crowded.
The weighted funding rate for BTC is around 0.009%, remaining relatively neutral, while ETH's is significantly higher at 0.0111-0.0123%. The current long/short ratio for ETH has reached 2.6179, above the common crowded level.
This divergence in price action and funding rates indicates that bulls are more aggressive with ETH, but also poses risks of sudden liquidations when prices fail to break through key resistance levels.