Berachain (BERA) has experienced a significant decline in value, losing 30% over the past week due to bearish sentiment in the market. In the last 24 hours, it has dropped another 6%, raising concerns of further decline. The token's sharp decline has resulted in an increase in short positions in its futures market, as indicated by its negative funding rate. This indicates a greater demand for short positions and reflects sustained bearish sentiment. Furthermore, there have been significant outflows from BERA's spot markets, signaling a surge in selling pressure and potentially leading to further price declines. At the current price of $6.14, BERA is slightly above support at $6.07. If the bearish bias continues, the price may drop to $5.35 and even potentially reach its all-time low of $4.74. However, if market sentiment improves and demand for BERA increases, the price could rally to $7.36.



Other News from Today