Filecoin price slides 9.5% as $26.45M flows into FIL perpetual shorts

Filecoin's price fell 9.5% over the last day while traders funneled $26.45 million into its perpetual futures market, lifting open interest to $138.56 million. The OI-Weighted Funding Rate plunged to -0.0691%, indicating a build-up of short positions as technical indicators like MACD and Bull Bear Power point to growing bearish momentum. Spot traders have also been offloading FIL, with more than $4.22 million exiting exchanges in 72 hours, adding to downside pressure.