I Am Not Buying Until Elon Is Crying

What I see in the market right now is deleveraging and and taking the risk off pretty much across the board. However at these levels the new market entrants ( and new whales like Microstrategy and Musk ) who bought in the mid-30s are getting nervous and uncomfortable, but still have not capitulated. But if markets head lower from here, we will see a real capitulations and BTC will likely head to below 20. That will be a good dip to buy! 

So, to summarize, this is not a fundamental analysis, this is not technical analysis, this is my speculation on peoples emotions - right now is not the dip to buy, it is too early. Wait until the whales start puking and buy at 20 !

BTC Funding Rate Turns Sharply Negative

As of this morning following the market selloff BTC-perpetual funding rate, aka basis, turned sharpy negative after trading in green for the last 1/2 year. From the chart below it looks like breaking 44K level triggered the decline, and this can signify a major shift in investor sentiment. This can also possibly be an end to both general crypto bull market, and also dampen DeFi projects since their performance correlates to volatility and funding rates.