$MAGIC’s daily chart has just broken out of its sideways trading range at the $0.038 bottom, and after surging 44% in a single day, retail traders are rushing to pile into shorts? They’ve completely failed to see just how unusual this move in MAGIC is.
The price jumped from 0.0949 to 0.1445, while open interest in futures contracts edged up by only 1.17 million, from 117 million to 117.5 million tokens. The retail long/short ratio fell to 0.81, but the ratio for large traders held steady at 1.03. Most tokens are locked up in the ecosystem and MagicSwap pools, leaving exchange order books razor-thin.
There’s no leverage-driven froth in this market—spot buying is simply draining liquidity. The short positions piling up against the trend have become perfect fuel for a short squeeze, while spot buyers are firmly capping the downside. Add to your spot position decisively in batches on each pullback. Don’t go down with the shorts.
#比特币期权波动率创五年新低 #MAGIC $MAGIC
#MAGIC $MAGIC
👇
The price jumped from 0.0949 to 0.1445, while open interest in futures contracts edged up by only 1.17 million, from 117 million to 117.5 million tokens. The retail long/short ratio fell to 0.81, but the ratio for large traders held steady at 1.03. Most tokens are locked up in the ecosystem and MagicSwap pools, leaving exchange order books razor-thin.
There’s no leverage-driven froth in this market—spot buying is simply draining liquidity. The short positions piling up against the trend have become perfect fuel for a short squeeze, while spot buyers are firmly capping the downside. Add to your spot position decisively in batches on each pullback. Don’t go down with the shorts.
#比特币期权波动率创五年新低 #MAGIC $MAGIC
#MAGIC $MAGIC
👇