AKE is now around 0.01. Yesterday I just touched a historical high—within less than a day it got cut by more than 30%. 🤣 A few posts ago I already said it plainly: this kind of position, I don’t chase. Now look—brothers who rushed in at the open are already under water.
First, let’s look at the futures. In three days the chart more than doubled, but the open interest dropped by 7 percentage points in a single day. In just four hours it was essentially “decided” as exhaustion—the price is still hovering sideways, while the leveraged longs underneath have already pulled back. This kind of shrinking position isn’t a washout; it’s the bulls themselves admitting defeat.
Next, look at the funding. Spot large orders haven’t seen a single net inflow across five consecutive candles, and trading volume also shrank noticeably. The market looks lively, but it’s all being fueled by emotion being exchanged—not by real money sitting underneath. The whale accounts are still moving funds out. Only the position ratio has edged up slightly. To put it bluntly, they’re still hard-holding.
That said, one thing at least: the price is still above the short-term moving averages, and the funding rate hasn’t flipped green/red—that is, it’s not fully to the point of a breakdown. But the problem is exactly here: it can’t keep rising. The “relay money” hasn’t arrived. Next, it will either chop sideways and grind the longs to death, or drop down to find support.
I won’t touch this level. Chasing longs isn’t good value. I’ll wait until this exhaustion plays out, or until large-order capital comes back in. Short-term avoidance—wait for the funds to choose a direction.
#ake $AKE
First, let’s look at the futures. In three days the chart more than doubled, but the open interest dropped by 7 percentage points in a single day. In just four hours it was essentially “decided” as exhaustion—the price is still hovering sideways, while the leveraged longs underneath have already pulled back. This kind of shrinking position isn’t a washout; it’s the bulls themselves admitting defeat.
Next, look at the funding. Spot large orders haven’t seen a single net inflow across five consecutive candles, and trading volume also shrank noticeably. The market looks lively, but it’s all being fueled by emotion being exchanged—not by real money sitting underneath. The whale accounts are still moving funds out. Only the position ratio has edged up slightly. To put it bluntly, they’re still hard-holding.
That said, one thing at least: the price is still above the short-term moving averages, and the funding rate hasn’t flipped green/red—that is, it’s not fully to the point of a breakdown. But the problem is exactly here: it can’t keep rising. The “relay money” hasn’t arrived. Next, it will either chop sideways and grind the longs to death, or drop down to find support.
I won’t touch this level. Chasing longs isn’t good value. I’ll wait until this exhaustion plays out, or until large-order capital comes back in. Short-term avoidance—wait for the funds to choose a direction.
#ake $AKE