Looking for a bounce...

... Or a few things we are watching closely.

1. Funding Rates

A deep dive below 0 would be nice for a bounce, are we there?

BTC Average Funding Rate
ETH Average Funding Rate

Not really. Average funding rates on BTC and ETH are close to neutral. Neither longs are paying shorts, neither shorts are paying longs on derivatives markets.

2. Weighted Sentiment

A deep dive into negative sentiment would be preferable. How does it look?

BTC Weighted Sentiment
ETH Weighted Sentiment

BTC sentiment is close to neutral. A super high spike a few days ago indicated a very nice sell point by the way. ETH looks almost the same.

3. Debt repaid (on Maker DAO)

A string of spikes of debt repaid are often indicating a bottom. Are we somewhere near?

Debt Repaid

Well, not yet actually. There is one single spike, it's good, but it doesn't look confident in current environment. Ideally we'd like to see more.

Wrapping up

Negative funding rates + negative sentiment + debt repaid = this is how a more confident set up could look like today.

Disclaimer: The opinions expressed in the post are for general informational purposes only and are not intended to provide specific advice or recommendations for any individual or on any specific security or investment product.

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