To be honest, today’s trend for
$BTR is kind of interesting—it’s down by nearly 40%, but over the past 8 hours it has actually been moving back.
First, let’s talk about what happened: in the past 24 hours,
$BTR was dumped from the high point of 0.1688 all the way down to 0.0823—a drop on the order of a halving. Trading volume of 25.6 billion (in shares/turnover) was pushed out, and it’s pretty clear that someone is aggressively distributing.
But pay attention to the current long/short positioning: 62% of people are betting on further downside, while only 38% are going long.
This situation is a bit like a “slingshot” move—when almost everyone is standing on the same side betting that it will keep falling, and the price doesn’t cooperate by continuing to drop, the reversal can trigger a chain reaction of “forced surrender.” Those who bet on the fall have to close their positions by buying back, which in turn helps push the price higher.
More subtly, the candlestick structure over the recent 8 hours has already been strengthening: the lows are getting higher, which suggests the selling pressure from the dump is weakening, and bargain hunters are starting to enter.
This doesn’t mean a rebound is guaranteed, but the combination of “after a big sell-off, short positioning is crowded + short-term strength” has often historically led to a quick short-squeeze—i.e., forcing shorts to give up and driving the price up rapidly in the short term.
As of now, if it can hold steady around 0.1, short-side pressure will keep growing. Conversely, if it breaks 0.082 again, then the shorts are right—and this rebound will be a fake.
I’ll be watching the key integer level at 0.10 to see who breaks first between longs and shorts.
$BTR #轧空行情 #62% shorts
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