Currently, CVX shows limited upward momentum and a markedly subdued funding rate, indicating a pullback in market risk appetite. In the short term, CVX is constrained by the $1.86–$1.88 resistance zone, while $1.75 provides effective support. Close attention should be paid to whether Bitcoin can break and hold above the $75,000 level. If this level fails to hold, CVX may accelerate its retracement. It is advised to take profits in a timely manner and guard against the risk of liquidity contraction. Short-term trading should focus on range-bound strategies, while aggressive long positions are best entered only after confirmed breakouts with significant volume.

According to Coinglass data, perpetual contract funding rates—mainly concentrated on decentralized exchanges—have continuously remained below 0.005%, reflecting traders’ deepening bearish expectations for the market. In this environment, liquidity tends to exit high-risk assets, which may pressure CVX's basis over the short term, dampen long sentiment, and raise the cost for short positions, thereby placing pressure on the price.

On April 10, as Bitcoin surpassed $72,000 again, data from Coinglass showed that funding rates on major centralized and decentralized exchanges indicate a deepening bearish market sentiment. Funding rates, used to balance perpetual contract prices with underlying asset prices, reflect trader sentiment: rates above 0.01% suggest bullishness, while rates below 0.005% indicate bearishness. Current rates point to increased bearishness.

The current mainstream CEX and DEX funding rates indicate a deepening bearish sentiment in the market.

As Bitcoin returns to a four-week high and approaches the critical $75,000 'volatility trigger zone,' the negative gamma effect in derivatives markets is likely to amplify sharp price swings. Should Bitcoin break above and maintain this level, it will attract capital flows from both primary and paired assets, boosting CVX in the short term for a follow-up rally. However, a technical pullback could trigger rapid capital outflows, leading to a synchronous correction in CVX.

The daily chart shows CVX has been gradually moving upwards from the March 28 low of $1.6345, reaching a high of $1.8657 on April 16, where it encountered resistance. Currently, the price is moving within a mid-range ascending channel, with short-term support between $1.78–$1.75 and resistance concentrated around $1.86–$1.88. Trading volume has shown surges at key points but has not sustained significant expansion. Going forward, it's necessary to monitor changes in capital inflows and Bitcoin's volatility to see whether CVX can achieve an effective breakout or a confirmed retracement.

Convex Finance

It’s not a given that the European Central Bank’s next move on interest rates will be a hike, according to Governing Council member Martins Kazaks.

Kazaks: Will not oppose bets on two interest rate hikes this year

Waller: Rapid resolution of the Middle East situation may allow for interest rate cuts later this year.

Waller: Overall PCE inflation year-over-year in March may reach 3.5%

The Federal Reserve's Waller expressed caution regarding interest rates, warning of the risks of prolonged warfare.

Fed's Daly: Rates May Remain Unchanged

Daly: The federal funds rate is slightly above the neutral level of 3%.

UBS Expects 50 bps Fed Rate Cuts as Gov Miran Downplays Inflation Risks

Federal Reserve's Daly: On hold regarding interest rates.

Easing tensions in the Middle East combined with rising expectations of interest rate cuts have pushed gold close to $4,900.

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Convex Finance Price: CVX Live Price Today | CVX Market Cap & Chart Analysis | Bybit-eu

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CVX price today is 1.91, with a live price change of 3.66 in the last 24 hours. Convert, buy, sell and trade CVX on Bybit-eu.

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