On February 12, it was reported that in 2026, Berachain (BERA) experienced extreme funding rate imbalances in the perpetual contract market, triggering a large-scale short squeeze. The price surged 82% within 24 hours. As of press time, BERA was trading at $0.937, with intraday volatility between $0.5117 and $1.43. After a rapid rise of over 150%, it quickly pulled back. This movement also drove its 7-day gains to 120%, with a total increase of about 70% over 30 days.
Trading volume also expanded significantly. The spot 24-hour trading volume reached $1.05 billion, a 465% increase. Derivatives saw even more dramatic growth, with futures trading volume soaring 632% to $2.94 billion, and open interest increasing 102% to $142.8 million, indicating the market is undergoing concentrated position switching and liquidation rather than just spot chasing.
The core of this rally lies in extreme funding rates. Market monitoring showed that Berachain’s perpetual contract annualized funding rate fluctuated sharply between -5,900% and +3,000%, far beyond normal levels. The perpetual price has been consistently below the spot price, creating a clear basis, which indicates a highly crowded short position. When prices rise, shorts are forced to cover, further pushing prices higher and creating a chain squeeze.
On February 6, BERA unlocked approximately 63.75 million tokens, accounting for 41.7% of the circulating supply. This event, initially seen as bearish, did not trigger a sell-off; instead, the market absorbed it, and the price rebounded rapidly, becoming a trigger for a short squeeze.
Technically, BERA remains in a medium-term downtrend, but recent strong rebound has pushed it back above the 20-day moving average and tested near the 50-day moving average. The RSI has recovered to around 67, indicating improved momentum. Bulls need to hold the $0.87–$0.90 range. If volume breaks through $1.50, the next target could be $1.80–$2.00. Conversely, if it falls below $0.90 and loses the $0.57 support, this rally may only be a short-term rebound driven by market liquidity.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Bitcoin Rebounds to $74K on U.S.-Iran Framework Deal, But Market Skepticism Remains
Bitcoin's recent rise to mid-$74,000 followed a risk asset rally linked to a U.S.-Iran nuclear framework, but skepticism remains due to flat Treasury yields and unchanged gold prices. The core issue of uranium enrichment persists, and while on-chain data shows BTC's gradual advance, options markets reflect doubts about a sustained breakout. Overall, analysts see the rally as temporary, with macro conditions still tight and potential downside risks.
GateNews11h ago
Cardano Traders Watch $0.243 Support Level as ADA Price Faces Critical Decision
Cardano (ADA) is at a crucial support level of $0.243, with potential gains to $0.30 if it holds. A daily close below this could lead to declines toward $0.10. Currently, trading volume is around $500 million, with ADA notably below its all-time high.
GateNews12h ago
ETH/BTC Price Ratio Rebounds to 0.0313 in Q1 2026 as Ethereum User Base Surges 82%
In Q1 2026, the Ethereum-to-Bitcoin price ratio reached a three-month high at 0.0313. Ethereum added 284,000 users and surpassed $180 billion in stablecoin supply. Bitcoin remained strong above $74,000, driven by significant ETF inflows.
GateNews17h ago
Why is Bitcoin up today? Trump says Iran is seeking a truce, and risk assets move higher across the board
On April 15, Bitcoin rebounded about 6% after Trump said Iran is seeking to reach an agreement, breaking above $75,000. Expectations for the resumption of U.S.-Iran negotiations warmed up, lifting Asian stock markets. Technically, roughly $6 billion worth of short positions were forced to close, accelerating the rebound. Analysts said that if the U.S.-Iran situation continues to ease, Bitcoin could break through $80,000, and they predicted it may reach $150,000 by year-end.
MarketWhisper21h ago
Bitmine is promoted to the NYSE main board! Tom Lee: US stocks may be at a bottom, and selling pressure on Ether could ease
Bitmine officially transferred from the NYSE American market to the main board, marking a significant milestone for the company. Despite a sharp drop in its share price, it still increased the share repurchase program to $4 billion. The company holds a large amount of Ether, and expects that a rebound in the crypto market will help improve its assets and share price performance.
CryptoCity21h ago
ETH 15-minute up 0.66%: On-chain large transfers in sync drove a net inflow of funds, boosting spot buying pressure
2026-04-15 00:00 to 00:15 (UTC), ETH shows a local anomaly. The 15-minute return rate is +0.66%. The trading price range is 2321.93–2343.2 USDT, with a range of 0.92%. During this period, market attention increased, volatility slightly intensified, buy pressure in the order book shifted upward in the short term, and quickly pushed spot prices up into a key resistance area.
The main drivers of this anomaly are large on-chain transfers and inflows of capital in combination. At the beginning of the window, multiple large ETH transfers appeared, including 8,676 ETH and 6,551 ETH, respectively, transferring from a large source to the
GateNews22h ago
