# 永续合约市场

The signals in the perpetual contract market are starting to get interesting. CryptoQuant's data shows that the funding rate has fallen to its lowest level since December 2023, which is no coincidence — it indicates a clear decline in the market’s willingness to maintain long positions. Recently, some aggressive traders I follow have begun adjusting their position structures, shifting from full-margin chasing to layered shorting. This transition is worth observing.
The key support level of $70,000 is a number I remember. From a technical perspective, Bitcoin has broken below the 365-day moving

#永续合约市场 How deep is the water in the perpetual contract market? After seeing Hyperliquid's recent clarification, I was reminded of the pitfalls I've encountered over the years.
Honestly, when a platform needs to refute accusations like "under-collateralized," "market manipulation," or "hidden lending" one by one, the first reaction of a normal person is to be cautious. But upon closer inspection of this clarification, there are several details worth noting — they laid out the total USDC supply, on-chain data, governance mechanisms, and even promised decentralization and open-source by 2025. T

The funding rate for perpetual contracts has fallen to its lowest level since December 2023. What does this indicate? It suggests that the enthusiasm among longs is clearly waning. Once CryptoQuant's analysis was released, it essentially confirmed that a bear market might really be coming.
Bitcoin has already broken below the 365-day moving average, a line that has traditionally been the dividing line between bull and bear markets. Breaking this line means that the long-term trend is indeed deteriorating. The good news is that the medium-term support level is expected to be around $70,000, whi

#永续合约市场 The perpetual contract market has been a real roller coaster lately! Bitcoin has been oscillating around the $90,000 mark, Ethereum also fluctuates around $3,000, and the entire network experienced $195 million in liquidations over the past 24 hours, with both longs and shorts being ruthlessly wiped out.
What does this reflect? It indicates that market sentiment is extremely polarized. The Alpha sector and the contract sector are the truly profitable areas, but the dual-edged nature of contracts is becoming more apparent—tokens like $LIGHT, for example, can surge fourfold in a single

#永续合约市场 Seeing this wave of market activity, I can't help but think back to the wild growth period of perpetual contracts in 2017. At that time, leverage trading was just emerging, and everyone thought they were trading geniuses. But a single overnight crash wiped out countless accounts. Honestly, today's situation reminds me of a certain echo of history.
Bitcoin repeatedly tests the 90,000 level, while Ethereum breaks through 3000 but can only maintain narrow fluctuations. I've seen this "want to rise but hold back" stance too many times. The most alarming thing isn't the price itself, but t

#永续合约市场 The current state of the perpetual contract market is like this—profit-making effects only exist in the Alpha and contract sectors, while other areas hardly show any opportunities. In the past 24 hours, 117,000 traders were liquidated across the entire network, with $195 million wiped out—both bulls and bears are harvesting each other.
BTC daily chart forms an arc top, with 90,000-90,500 as the key resistance level, and the vital support at 85,000. If it can break through 90,500, the next targets are 91,600-92,000; if not, consider switching to short. ETH shows a head and shoulders pa

#永续合约市场 Seeing this clarification from Hyperliquid, I am reminded of some recent events in the perpetual contract market. The market is always easily swayed by panic emotions; when an accusation appears, everyone rushes to withdraw funds. But I looked at their point-by-point responses—covering USDC total supply, oracle mechanisms, and liquidation logic—each one points to specific on-chain data.
This reminds me of an important principle: in high-risk areas like perpetual contracts, transparency and verifiability are truly the moat. It’s not that a perfect platform is necessarily safe, but thos

#永续合约市场 Bitcoin has once again risen back to 90,000. The open interest in perpetual contracts increased from 304,000 to 310,000 BTC, and the funding rate also rose from 0.004% to 0.009%... Seeing these numbers really left me stunned. What does this actually indicate? 🤔
Later, I realized that this is just the bulls re-accumulating positions, as everyone is preparing for the year-end market fluctuations. It feels like the entire market's enthusiasm is concentrated in the contract sector, but this also makes me a bit nervous — I heard that nearly 120,000 traders were liquidated within 24 hours,

#永续合约市场 ETH has broken 3000, but don't rush to buy in 🚗 The head and shoulders top pattern is right here; the right shoulder just touched 3080 and then dropped again. In the short term, it's just a rebound window. Only a pullback to 2980-2950 is a true buying opportunity, with a stop loss at 2920 and targets at 3080-3110. If it can't break through this resistance level, consider reversing to short.
Honestly, right now, the market's profit-making effect is only left in Alpha and contracts; the secondary market has lost its heat. As for BSC, it's even worse—every day dozens of new projects are