$BNB $XRP
According to the current data:
• Long-short ratio: The long-short ratio of BTC across the entire network is 50%:50%, indicating extremely balanced long and short forces. Major platforms such as Binance, OKX, Deribit, and Bitfinex show a dominance of shorts, while Bybit, Hyperliquid, and CoinEx show a dominance of longs, with a clear market divergence and a lack of a definitive one-sided trend.
• Funding rate: The funding rates for BTC on the three major platforms, Binance, OKX, and Bybit, are all negative, at -0.009%, -0.0002%, and -0.008% respectively, indicating an overall bearish market where shorts are paying longs, placing short-term pressure on the market.
Overall judgment: The current market is in a stalemate of long and short competition, lacking clear directional guidance. The negative funding rates suggest a bearish sentiment in the short term, but the balanced long-short ratio indicates that short forces have not formed an absolute suppression. In a broader direction, it leans more towards weak fluctuations in the short term, requiring close attention to the gains and losses of key support levels. If broken, it could open up further downward space; conversely, if it stabilizes and rebounds, a counter-trend rally may be expected.