Bitcoin Flat at $79,840 as QUSDT Soars 275% on Oct 27

Bitcoin traded at $79,840 on Monday, October 27, 2026 at 12:05 WIB, down 0.34% over 24 hours, according to Binance USDT-M Futures data processed by Queenby. BTC's 24-hour trading volume came in at $8.97 billion, the largest of any futures pair on the platform.

Ethereum slipped 0.24% to $2,318 with $6.33 billion in volume. Other major coins were also in the red: SOL fell 1.07% to $100.29, and BNB dropped 0.57% to $738.66. The lone gainer among the top five was XRP, up 0.89% to $1.3005.

The Biggest Gainers

Outside the top five coins, the altcoin market was far wilder. QUSDT stood out with a 275.39% surge in 24 hours on $780 million in volume, a sizable figure for a token outside the top tier. The data we processed does not specify what triggered the move.

Following behind, AINUSDT jumped 144.54% on $147 million in volume, BULLAUSDT rose 64.32% ($265 million), DOODUSDT climbed 63.64% ($502 million), and JCTUSDT gained 32.42% ($245 million). Volume above $50 million across all these tokens suggests the moves weren't just thin-liquidity noise but reflected genuine buying interest.

The Biggest Losers

On the flip side, BTWUSDT tumbled 18.70% on $299 million in volume, the steepest drop among coins with at least $50 million in volume. CAPUSDT fell 14.49% ($207 million), IRYSUSDT dropped 13.74% ($147 million), ERAUSDT slid 4.86% ($113 million), and APRUSDT lost 3.44% ($110 million).

The contrast between tokens surging hundreds of percent and others plunging double digits within the same 24-hour window shows fast liquidity rotation in smaller altcoins, while BTC and ETH stayed relatively calm.

Funding Rates: Who's Paying Whom

Funding rate is a fee exchanged between long and short traders every 8 hours in futures markets. Exchanges use this mechanism to keep futures prices anchored near spot prices. Positive funding means longs pay shorts, typically when buying demand via futures outweighs selling. Negative funding is the reverse.

Today, JCTUSDT posted the most positive funding rate at 0.0570%, followed by AINUSDT at 0.0562% and CAPUSDT at 0.0353%. That means long traders in these three tokens are paying a premium to shorts every 8 hours, a sign of crowded long positioning.

On the other end, DOODUSDT recorded the most negative funding rate, at minus 0.5453%, far more extreme than IRYSUSDT at minus 0.1603% and ERAUSDT at minus 0.1095%. Funding that negative usually signals heavily crowded short positions, and historically that kind of setup can fuel a short squeeze if price suddenly reverses higher.

Open Interest and Long/Short Ratios for BTC and ETH

Open interest is the total value of all futures contracts still open, not yet closed. It's a gauge of how much capital is sitting in the derivatives market for a given asset.

BTC's open interest stood at $7.65 billion, down 1.7% over the past week. A drop in open interest alongside relatively flat price action can mean some traders are closing positions or cutting leverage. ETH's open interest sat at $5.47 billion, down a smaller 0.5% over the week.

For the long/short account ratio, 70% of accounts holding BTC positions on Binance Futures are currently long, putting the long-to-short ratio at 2.37. That means for every one short account, there are roughly 2.37 long accounts. ETH's skew is even heavier toward longs, with 77% of accounts long and a ratio of 3.38.

Keep in mind this ratio counts accounts, not dollar-weighted position size. One large account could be short with far more notional value than dozens of smaller long accounts combined. Still, ratios this high generally point to bullish retail sentiment on BTC and ETH, even as both prices slipped over the past 24 hours.

Taker Buy/Sell: Buyers Still Slightly More Aggressive

The taker buy/sell ratio measures the balance between buy and sell orders executed aggressively, meaning orders that take liquidity directly from the order book rather than sitting as limit orders. A ratio above 1 means more aggressive buying than selling.

Yesterday, BTC's taker buy/sell ratio sat at 1.04, and ETH's at 1.02. Both are just slightly above 1, indicating aggressive buyers still edged out aggressive sellers, though the margin is thin and both assets' prices still declined over 24 hours.

What It Means for Traders

BTC's open interest dropping 1.7% over the week while price stayed roughly flat at $79,840 could point to deleveraging rather than a new directional trend. Traders can watch whether open interest keeps shrinking while price holds steady, which usually suggests high-leverage positions are being unwound gradually rather than through sudden liquidations.

The 70% long ratio in BTC and 77% in ETH, combined with a taker buy/sell ratio still above 1, point to bullish retail positioning. But crowding too heavily on one side also raises reversal risk, since there would be more long positions exposed to stop losses or liquidations than shorts if sentiment flips.

For DOODUSDT, a funding rate of minus 0.5453% per 8 hours is fairly extreme. Traders tracking this token can check whether funding stays this negative in subsequent periods, since this kind of setup has historically been prone to short squeezes if buying volume suddenly spikes. Conversely, JCTUSDT and AINUSDT's funding rates above 0.05% mean holding long positions is getting more expensive, something worth factoring in for anyone planning to hold overnight.