COTI is currently around 0.0115u, just having dropped back after a sudden surge.
The most eye-catching thing over the past two days isn’t anything else—it’s the rally itself: it went straight from 0.0093 to 0.014, with the contract up more than 15% in a day, and at one point within four hours it was +23%. But don’t be fooled by the size of the move—there are only two pieces of news on the tape: being featured in the "Today’s Gainers" list and an exchange promotion. The little bit of heat in sentiment is basically just order-chasing and squeeze-related—watching the short squeeze—there isn’t much substantial fundamentals supporting it.
Structurally, what you should be more wary of is this: open interest jumped by over 40% in a single day, while the funding rate is deeply negative. All eight sample points are negative. This combination is very typical—prices that are pushed up by sentiment rather than money actually buying. Now, within the last hour, it has already given back 7.75%, and the top-and-fail pattern is very clear.
However, spot is showing a different picture: the sell wall thickness is only one-third that of the buy wall, and passive buying is about 2.8 times. That suggests there really are buyers stepping in at the low end. But the large orders have been net outflow over the past three hours, and none of the 12 lines have turned positive. Funds are fighting: short-term support is being absorbed, but the trend is gradually withdrawing.
At this level, I won’t chase. In emotional markets, the pullback swings are extremely violent—chasing in is catching a falling knife. The key is whether that spot buy wall after the pullback can hold: whether price can stabilize around 0.011 and whether volume can recover. Then we can talk about a repair. For now, I’ll just watch—no guessing direction.
#coti $COTI
The most eye-catching thing over the past two days isn’t anything else—it’s the rally itself: it went straight from 0.0093 to 0.014, with the contract up more than 15% in a day, and at one point within four hours it was +23%. But don’t be fooled by the size of the move—there are only two pieces of news on the tape: being featured in the "Today’s Gainers" list and an exchange promotion. The little bit of heat in sentiment is basically just order-chasing and squeeze-related—watching the short squeeze—there isn’t much substantial fundamentals supporting it.
Structurally, what you should be more wary of is this: open interest jumped by over 40% in a single day, while the funding rate is deeply negative. All eight sample points are negative. This combination is very typical—prices that are pushed up by sentiment rather than money actually buying. Now, within the last hour, it has already given back 7.75%, and the top-and-fail pattern is very clear.
However, spot is showing a different picture: the sell wall thickness is only one-third that of the buy wall, and passive buying is about 2.8 times. That suggests there really are buyers stepping in at the low end. But the large orders have been net outflow over the past three hours, and none of the 12 lines have turned positive. Funds are fighting: short-term support is being absorbed, but the trend is gradually withdrawing.
At this level, I won’t chase. In emotional markets, the pullback swings are extremely violent—chasing in is catching a falling knife. The key is whether that spot buy wall after the pullback can hold: whether price can stabilize around 0.011 and whether volume can recover. Then we can talk about a repair. For now, I’ll just watch—no guessing direction.
#coti $COTI