ETH delta hedging indicates robust liquidity above $2500. Funding rates remain largely positive, not signaling a deep liquidation cascade to $2200. Spot ETF narrative, even with May deferral, caps downside. 90% YES — invalid if BTC breaks $55k.
ETH delta hedging indicates robust liquidity above $2500. Funding rates remain largely positive, not signaling a deep liquidation cascade to $2200. Spot ETF narrative, even with May deferral, caps downside. 90% YES — invalid if BTC breaks $55k.