PTB took a roller-coaster ride today.
Lowest 0.000746, highest touched 0.00143—at one point the low rose to nearly double. Now it has pulled back to 0.00114, up 43.6% over the last 24 hours, but it has already given back two tenths from the high. The longs who chased at the top are currently down by exactly one fifth on paper.
More eye-catching is the open interest. Across the whole network, PTB futures open interest totals $15.47 million, surging 72.6% in a single day. Binance alone accounts for $9.2 million—nearly 60%—and it added another 10% over the past 4 hours. While the price is giving back gains, leverage hasn’t fallen; instead, positions are being added. This batch of capital is betting on a second wave.
Liquidations are oddly quiet this time: only $1.48 million liquidated in 24 hours, with longs and shorts splitting evenly. This move was bought into—not liquidation forcing shorts higher. It’s not the same as today’s market-wide squeeze. The gains on Binance, Bybit, and Gate all fall neatly between 43% and 44%.
The risk is also blunt: the more positions you pile on, the higher it gets. If 0.00114 can’t be held, the newly added leveraged long orders are all fuel for declines.
Do you think there’s a second wave for PTB?
Check in real time: https://www.coinboss.com/currencies/PTB