Berachain (BERA) 30% Drop Triggers Short-Seller Frenzy: More Losses Ahead? 📉
Berachain (BERA) has experienced a significant decline, losing 30% of its value in the past week as bearish sentiment grips the market. Within the last 24 hours, the token has fallen an additional 6% as concerns about further declines persist. The rise in short positions and negative funding rates highlight the sustained bearish bias.
The demand for short positions, evident in the negative funding rate of -0.11%, indicates traders are betting on continued price drops. Additionally, substantial outflows from spot markets signal heightened selling pressure. Occupying a crucial support level at $6.14, BERA faces a crossroads: a breach could see it decline to $4.74, while positive shifts might propel it towards $7.36.
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