At first glance, I thought $PUMP someone was stepping in to absorb the supply. But when I put the two position columns side by side, that wasn’t the case.
Today, the price broke below the 20-day low of 0.00325, down 13.449% in 24 hours.
The price got hammered, but positions didn’t follow it down.
Open interest in contracts is up 2.04% from 24 hours ago, but those same positions are worth 11.71% less in dollar terms.
When I put those two figures together, I couldn’t help but laugh.
No new money has come in.
Long accounts make up 46.03%, and the funding rate is still below zero at -0.001066%. Shorts are holding this level, but they’re not collecting rent.
It’s like the water level in a pot is dropping while the fire underneath is still burning; all the disagreement is showing up in the funding rate.
Trading volume after the breakdown was $120 million. It’s like the coins changed hands, but not owners—the bids are empty.
Average daily volatility is 12.08%. In this asset, a two- or three-point swing in a day counts as a wick, not a direction.
I’m not trying to call the bottom. I’m paying less attention at this level.
What do you all think—is this a changing of hands, or is another leg down really coming?
$BTC $ETH
#PUMP #比特币 #Crypto
The above reflects my personal trading-system notes and data observations and does not constitute investment advice.
Today, the price broke below the 20-day low of 0.00325, down 13.449% in 24 hours.
The price got hammered, but positions didn’t follow it down.
Open interest in contracts is up 2.04% from 24 hours ago, but those same positions are worth 11.71% less in dollar terms.
When I put those two figures together, I couldn’t help but laugh.
No new money has come in.
Long accounts make up 46.03%, and the funding rate is still below zero at -0.001066%. Shorts are holding this level, but they’re not collecting rent.
It’s like the water level in a pot is dropping while the fire underneath is still burning; all the disagreement is showing up in the funding rate.
Trading volume after the breakdown was $120 million. It’s like the coins changed hands, but not owners—the bids are empty.
Average daily volatility is 12.08%. In this asset, a two- or three-point swing in a day counts as a wick, not a direction.
I’m not trying to call the bottom. I’m paying less attention at this level.
What do you all think—is this a changing of hands, or is another leg down really coming?
$BTC $ETH
#PUMP #比特币 #Crypto
The above reflects my personal trading-system notes and data observations and does not constitute investment advice.
