$ADA 0.2201, more than two points down again within 24 hours. Just now, a big spot order flipped from net inflow to a net outflow of 210,000—those hands propping it up just withdrew. But three hours earlier, net inflows were nearly one hundred million USD; the buy-side in the order book was almost twice as thick as the sell-side.
With money flooding in like this, what about the price? It pulled back fifteen points from the peak at 0.2588 and then just stayed put at 0.22. If bids are so aggressive but the price can’t be moved upward, that’s not “strong buying”—it’s someone above using this order-queue to dump.
It matches on-chain: the leveraged spot long/short ratio is 82x; in the last 12 hours it even increased by 11%, while retail traders are adding leverage and charging in on their own; but the lending scale dropped 96% in 12 hours—those who borrowed are starting to stop. Borrowers are backing off, and buyers are pushing hard—whose coins is this money picking up? I don’t need to say it, do I.
At this level I stand with the shorts. Once the support money is withdrawn, the price will most likely need to find its way down further. The only thing that can make me shut up is if, on the derivatives side, they add to the position again, and if the big spot orders keep coming in for several hours without pulling back—if you haven’t seen that, then going short is the answer.
#ada $ADA
With money flooding in like this, what about the price? It pulled back fifteen points from the peak at 0.2588 and then just stayed put at 0.22. If bids are so aggressive but the price can’t be moved upward, that’s not “strong buying”—it’s someone above using this order-queue to dump.
It matches on-chain: the leveraged spot long/short ratio is 82x; in the last 12 hours it even increased by 11%, while retail traders are adding leverage and charging in on their own; but the lending scale dropped 96% in 12 hours—those who borrowed are starting to stop. Borrowers are backing off, and buyers are pushing hard—whose coins is this money picking up? I don’t need to say it, do I.
At this level I stand with the shorts. Once the support money is withdrawn, the price will most likely need to find its way down further. The only thing that can make me shut up is if, on the derivatives side, they add to the position again, and if the big spot orders keep coming in for several hours without pulling back—if you haven’t seen that, then going short is the answer.
#ada $ADA
