Basic Attention Token (BAT) rose 12.28% on the day, according to AMBCrypto, as the expanding ecosystem around Brave drew renewed market attention. The token's 24-hour trading volume jumped 92.35% to $43.24 million, indicating heightened participation alongside the price move.
Brave ecosystem growth
Brave, a privacy-focused web browser that uses BAT to reward participants for viewing advertisements and supporting content creators, reported 128 million monthly active users. In addition, Brave Rewards Card registrations reportedly crossed 200,000, reflecting growing interest in the company's financial services. The role of BAT within Brave's rewards and payments ecosystem also drew attention as the platform expanded its reach.
Spot outflows and futures buying
BAT's spot and futures markets provided further insight into the price recovery. According to CoinGlass, BAT had $434.06K in negative spot netflows at press time, meaning withdrawals outnumbered deposits. That reading followed substantial exchange inflows earlier in October, including a daily spike exceeding $2 million on 13 October. The return to negative netflows reflected reduced immediate exchange-side supply.
Meanwhile, BAT's futures taker CVD indicator remained taker-buy dominant, suggesting more robust cumulative aggressive buying than selling. These readings together supported the price recovery, though sustained demand remained necessary to extend the rally.
Negative funding despite short liquidations
Derivatives positioning continued to reflect considerable bearish sentiment. The open-interest-weighted funding rate remained negative at -0.0072%, with earlier October readings registering deeper negative spikes that highlighted periods of stronger bearish positioning.
Liquidation figures revealed significant pressure on short sellers: $197.89K in shorts were liquidated against $52.53K in longs, meaning short positions accounted for nearly 80% of total liquidations. This imbalance reflected losses among bearish traders, although the negative funding implied continued short-side positioning.
Technical breakout and the $0.2160 test
On the daily chart, BAT recovered rapidly from $0.1000 before facing rejection around the $0.2160 zone. The token then consolidated within a bullish pennant flag while defending the $0.1715 support. The most recent candle pushed above the pennant's descending resistance, reaching $0.1967.
This emerging structural breakout reinforced a bullish continuation outlook, even though the daily candle had not confirmed the move. The Chaikin Money Flow remained positive at 0.19, suggesting continued capital inflow. The RSI stood at 66.86, below its moving average of 73.85, marking cooling bullish strength, but remained above the 50 threshold, supporting the broader bullish structure.
Should BAT sustain its pennant breakout, the token stands a better chance of revisiting the $0.2160 supply zone again.
