$BLUAI is currently around 0.0129—this script really hasn’t changed at all.
Yesterday it was pumped from 0.011 straight up to 0.034; everywhere you could see people shouting “breakout.” In the end, within four hours it dumped and wiped out more than half. Today there isn’t even a fraction of the highs left—over the past 24 hours it’s been trading right around a waist-split.
The problem is over on the contract side. When the price gets pushed downward, the open interest actually rises—by more than 60% in a day. In the next 7 hours it added nearly another 30%. This isn’t people “buying the dip”; it’s trapped long positions and new short sellers crowding in, and over the four-hour timeframe the direction is still down.
Even worse, the funding rate is still stuck at 0.05% and hasn’t dropped. The longs are still paying to keep themselves alive, and the little buy-side order flow on the order book can’t possibly absorb this level.
What about the spot side? Big orders show net inflows are negative—there’s no sign of any real money flowing back in.
With a drop where people add positions but the fees don’t cool off, I’m not touching it. If it bounces up to the resistance level, that’s just giving trapped longs a chance to exit and get unstuck—don’t go and grab that falling knife.
#bluai $BLUAI
Yesterday it was pumped from 0.011 straight up to 0.034; everywhere you could see people shouting “breakout.” In the end, within four hours it dumped and wiped out more than half. Today there isn’t even a fraction of the highs left—over the past 24 hours it’s been trading right around a waist-split.
The problem is over on the contract side. When the price gets pushed downward, the open interest actually rises—by more than 60% in a day. In the next 7 hours it added nearly another 30%. This isn’t people “buying the dip”; it’s trapped long positions and new short sellers crowding in, and over the four-hour timeframe the direction is still down.
Even worse, the funding rate is still stuck at 0.05% and hasn’t dropped. The longs are still paying to keep themselves alive, and the little buy-side order flow on the order book can’t possibly absorb this level.
What about the spot side? Big orders show net inflows are negative—there’s no sign of any real money flowing back in.
With a drop where people add positions but the fees don’t cool off, I’m not touching it. If it bounces up to the resistance level, that’s just giving trapped longs a chance to exit and get unstuck—don’t go and grab that falling knife.
#bluai $BLUAI