SNDK is still around 1595u now—the same familiar recipe: the price won’t move, but leverage moves first.
Open interest on the contracts shrank by another more than 10% in a day, with the funding rate staying right at zero—longs aren’t crowded, and shorts aren’t paying up. In plain terms, the earlier wave of leverage has already been mostly cleared; what remains in the market is money that isn’t in a hurry.
The real change is in the buy side. Active trade buyers account for more than 60%, and over the past seven hours, volume has amplified again by nearly 50%. In the spot order book, a single resting bid is twice as large as a single offer. The price hasn’t risen, but below, there are always people taking orders; the large-holder long/short positioning ratio is still being pushed higher.
Let me pour some cold water, though: net spot inflow of large orders is still zero—big money hasn’t truly stepped in. Over a four-hour window, direction remains flat. At the 1595 level, it hasn’t broken down and it hasn’t broken out; both sides are waiting.
My stance: it can’t be dragged down easily—that’s a fact; it also can’t rise right now—that’s a fact. I’m not in a rush to chase here. I’ll wait for it to choose a direction on its own—either a high-volume breakout above today’s high at 1607, or a pullback that holds and stabilizes first. As for shorting: leverage has already been cleared, so chasing shorts now has worse risk-reward. Overall, it’s just waiting for one confirmed candlestick.
#sndk $SNDK
Open interest on the contracts shrank by another more than 10% in a day, with the funding rate staying right at zero—longs aren’t crowded, and shorts aren’t paying up. In plain terms, the earlier wave of leverage has already been mostly cleared; what remains in the market is money that isn’t in a hurry.
The real change is in the buy side. Active trade buyers account for more than 60%, and over the past seven hours, volume has amplified again by nearly 50%. In the spot order book, a single resting bid is twice as large as a single offer. The price hasn’t risen, but below, there are always people taking orders; the large-holder long/short positioning ratio is still being pushed higher.
Let me pour some cold water, though: net spot inflow of large orders is still zero—big money hasn’t truly stepped in. Over a four-hour window, direction remains flat. At the 1595 level, it hasn’t broken down and it hasn’t broken out; both sides are waiting.
My stance: it can’t be dragged down easily—that’s a fact; it also can’t rise right now—that’s a fact. I’m not in a rush to chase here. I’ll wait for it to choose a direction on its own—either a high-volume breakout above today’s high at 1607, or a pullback that holds and stabilizes first. As for shorting: leverage has already been cleared, so chasing shorts now has worse risk-reward. Overall, it’s just waiting for one confirmed candlestick.
#sndk $SNDK