Traders betting against SKR paid an increasingly steep fee to keep their positions open, signaling intense downward pressure that is becoming very expensive to maintain.
Imagine SKR is trading around $0.023. A flood of traders wants to bet that the price will fall. To take those bets, they need others willing to take the opposite side and bet on a rise.
Over ten consecutive minutes, downward bets dominated so heavily that the cost to hold them grew every single minute, moving from minus 0.1485 percent to minus 0.1586 percent per hour while the price stayed near $0.0236.
This mechanism is called the funding rate. When it turns negative, traders holding downward bets must pay regular cash payments directly to traders holding upward bets to balance the market.
Ten alerts in ten minutes show persistent conviction from sellers. But paying nearly 0.16 percent every hour acts like a running taxi meter. Every hour the price does not drop, holding the bet becomes more costly.
This does not tell you where the price will go next. Strong selling pressure could push the price lower, or sellers might get tired of paying fees and close their bets by buying back SKR, sparking a sharp rise.
Do not think: everyone is selling, so the price must keep crashing. Think: downward bets are overcrowded and paying steep rent, making the market unstable and sensitive to sudden reversals.