RT // 🔺
RT // 🔺 2 minutes reading from Bitcoin

Bitcoin And Ethereum Are Outta Whack On Bybit And ETH

BTC and ETH funding rates a bit outta whack on Bybit innit?

BTC lows been lost, sitting in fat VPVR gap (liquidity vaccum)

ETH hasn't lost the June lows yet, so objectively much less bearish, but GL surviving a further drop from BTC, in that case, ETH would technically have further to fall I guess?

ETH / BTC cross LTF weak, but HTF just ranging still, so would assume keeps approx. parity with BTC through it's next big move..

fwiw, I don't have any "breakout" setups for shorts... Would need a squeeze up into local short RLZ's for me to take on any fresh short positions...

In the absence of any new information/catalyst, I'd expect BTC to take a slow, painful drip down to the base of the VPVR gap in the coming months... Physics playing out on the chart..

This post is based on this twitter thread.


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