MU now around 963u. In the past 24 hours it has dropped by more than 2 points, retreating all the way from the high at 990. I’m not in a hurry to take a side at this level—the data is fighting each other.
First, the order book. In the spot market, the sell orders are nearly half thicker than the buy orders. The buy-side depth isn’t even enough to match the opponent’s orders. This kind of order book is very sensitive to selling pressure—once the price drops, it’s easy for it to slide further downward.
But the funding picture is a different story. In the futures market, the share of the aggressive buy orders has been pushed to over 70%. The aggressive long-vs-short ratio is close to 2.7, the large-holder long-vs-short ratio is near 2, and the position long-vs-short ratio is also about 1.5. Also, over the past 7 hours, both sides have continued to lift higher—suggesting there is money absorbing at this level, not that nobody is willing to take it.
At the same time, open interest fell by nearly 4% in a day, with price moving down along with it. That looks more like profit-taking and exiting after the earlier rise, rather than panic stampede. The fee rate is basically near 0, and there’s no pressure from overheated leverage.
So the situation is very clear: short-term momentum and the spot order book are bearish, while the large accounts and aggressive orders are probing at the lows. Chasing longs here isn’t great on risk-reward, and I’m not in a hurry to short either. I’ll wait to see whether the pullback to around 950 can be held, or whether buy-side depth can be propped back up—then we can talk about direction.
#mu $MU
First, the order book. In the spot market, the sell orders are nearly half thicker than the buy orders. The buy-side depth isn’t even enough to match the opponent’s orders. This kind of order book is very sensitive to selling pressure—once the price drops, it’s easy for it to slide further downward.
But the funding picture is a different story. In the futures market, the share of the aggressive buy orders has been pushed to over 70%. The aggressive long-vs-short ratio is close to 2.7, the large-holder long-vs-short ratio is near 2, and the position long-vs-short ratio is also about 1.5. Also, over the past 7 hours, both sides have continued to lift higher—suggesting there is money absorbing at this level, not that nobody is willing to take it.
At the same time, open interest fell by nearly 4% in a day, with price moving down along with it. That looks more like profit-taking and exiting after the earlier rise, rather than panic stampede. The fee rate is basically near 0, and there’s no pressure from overheated leverage.
So the situation is very clear: short-term momentum and the spot order book are bearish, while the large accounts and aggressive orders are probing at the lows. Chasing longs here isn’t great on risk-reward, and I’m not in a hurry to short either. I’ll wait to see whether the pullback to around 950 can be held, or whether buy-side depth can be propped back up—then we can talk about direction.
#mu $MU