Do you guys have this feeling? Sometimes the market isn’t about choosing a coin because it’s fundamentally attractive—it’s about suddenly needing a coin to vent emotions.
Just now on the subway I checked the leaderboard: $TUT has been added to the spot top ten, and it’s also squeezed into the futures top ten.
For a small coin like this to get targeted by so many people at the same time, it’s usually not that the fundamentals suddenly “bloom.” It’s attention that rushes in first.
It’s still at $0.0384 on spot, and in the past 24 hours it’s down 40.66%.
The most extreme part is that during the day it even touched $0.06481, but then it was also踩到 as low as $0.03283—this back-and-forth whipping makes it obvious it’s not a steady relay. Emotions surge first, then people step on each other.
I watched the trade counts for a while—over 900,000 trades.
That kind of number looks like a bunch of people crowding the doorway to get in and out, not a few large orders quietly accumulating.
And the structure is even more interesting.
Spot is only $32.85M over the last 24 hours, while futures have gone all the way to $244.86M—exactly 7.5x. That suggests everyone is watching it mainly to bet on volatility, not seriously hoarding $TUT .
But the funding rate is only +0.0018%, not hot enough to be really overheating.
Meanwhile, open interest is sitting at 350 million coins $TUT —packed with people on top. Everyone wants to take a bite, and anyone can get thrown off the train.
Personally, I’m leaning bearish on this move.
It’s not that no one is playing $TUT . It’s that too many people are fixated on it right now—money comes in too fast and people’s nerves aren’t stable, so the price is likely to act like a spring: it overshoots and then snaps back.
So what am I waiting for?
Either spot volume can keep up for two consecutive days—don’t keep letting futures be the main character—or open interest drops by a chunk first, showing that some of the gamblers have gotten pushed out. Then I’ll look at it more seriously.
Otherwise, with a chart like this, I’d rather make a little less than get educated back and forth.
If you were me, would you go buy $TUT now, or would you wait until it’s fully vented all that emotion?
$TUT #加密货币 #BinanceSquare
If you can’t hold up, don’t get on the train. In any case, my experience is learned the hard way—by losing money.
Just now on the subway I checked the leaderboard: $TUT has been added to the spot top ten, and it’s also squeezed into the futures top ten.
For a small coin like this to get targeted by so many people at the same time, it’s usually not that the fundamentals suddenly “bloom.” It’s attention that rushes in first.
It’s still at $0.0384 on spot, and in the past 24 hours it’s down 40.66%.
The most extreme part is that during the day it even touched $0.06481, but then it was also踩到 as low as $0.03283—this back-and-forth whipping makes it obvious it’s not a steady relay. Emotions surge first, then people step on each other.
I watched the trade counts for a while—over 900,000 trades.
That kind of number looks like a bunch of people crowding the doorway to get in and out, not a few large orders quietly accumulating.
And the structure is even more interesting.
Spot is only $32.85M over the last 24 hours, while futures have gone all the way to $244.86M—exactly 7.5x. That suggests everyone is watching it mainly to bet on volatility, not seriously hoarding $TUT .
But the funding rate is only +0.0018%, not hot enough to be really overheating.
Meanwhile, open interest is sitting at 350 million coins $TUT —packed with people on top. Everyone wants to take a bite, and anyone can get thrown off the train.
Personally, I’m leaning bearish on this move.
It’s not that no one is playing $TUT . It’s that too many people are fixated on it right now—money comes in too fast and people’s nerves aren’t stable, so the price is likely to act like a spring: it overshoots and then snaps back.
So what am I waiting for?
Either spot volume can keep up for two consecutive days—don’t keep letting futures be the main character—or open interest drops by a chunk first, showing that some of the gamblers have gotten pushed out. Then I’ll look at it more seriously.
Otherwise, with a chart like this, I’d rather make a little less than get educated back and forth.
If you were me, would you go buy $TUT now, or would you wait until it’s fully vented all that emotion?
$TUT #加密货币 #BinanceSquare
If you can’t hold up, don’t get on the train. In any case, my experience is learned the hard way—by losing money.