Polkadot at $0.94: 70 percent of accounts bet on a rise while funding turns negative

The information provided in this article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry a high degree of risk. Always conduct your own research.Analysis: Polkadot trades at $0.9385, 20.7 percent lower than 30 days ago. On OKX, 69.6 percent of accounts are long, yet the funding rate is negative, and 81 percent of Monday's liquidations hit long positions.Add as a preferred source on GoogleFollow on Google NewsPolkadot traded at $0.9385 late on Monday evening, November 2, which is 20.7 percent lower than 30 days ago. The futures market stands out: on OKX, 69.6 percent of accounts with an open DOT position are still betting on rising prices, while the funding rate of the perpetual contract has turned negative. What the data shows: many accounts hold long positions, but the side with more weight is pushing the contract price below the spot price. Our assessment follows further down, along with a calculation of the price at which a leveraged DOT long gets liquidated. Polkadot on Monday evening: $0.9385 and down 21 percent in 30 days According to CoinGecko, DOT traded at $0.9385 on Monday evening, the equivalent of €0.8387. Wi...