$VELVET At dawn, this pump has some substance.

In 15 minutes it rose by nearly two percentage points, and the contract open interest is increasing in sync—not a simple spot pump to lure people, but genuine new leveraged long positions entering. Over the short term, OI can continue to move upward, and the notional change has pushed into the top few dozen of the whole pool. Judging from the position structure, the capital that’s going long this time isn’t playing around.

Even though the 15-minute trading volume is only 0.55× the average—so the liquidity isn’t explosive—the bids on the book look pretty steady. Active trading is 6.5% better for buys, with a buy/sell ratio of 1.14. At least for now, the long side has the upper hand.

#VELVET #合约 #BTC