Fell from 0.91 to 0.15—a drop of more than 77%.
This isn’t a minor adjustment; it’s that kind of sell-off all the way down to the kneecap.
But now, 68% of the contract positions are still long—that means most people haven’t given up yet; they’re still waiting for a “rebound.”
This situation is actually quite dangerous.
The price has been consolidating at low levels for several candlesticks. The lowest touched 0.1334, and it’s barely holding around 0.15 now. But every rebound lacks strength—the highest it reached was only 0.161 before being pushed back down.
The funding rate is still positive (0.005%), indicating that long positions are still paying interest to short sellers—longers are losing money and also tacking on extra costs.
The trading volume is not small either—more than 340 million accumulated within 8 hours—but a volume-backed sell-off usually isn’t a good sign.
What needs to be watched most now is this: if the 0.1334 low breaks again, how many of the 68% long positions will be forced to liquidate? That’s when real pressure release happens.
It’s not to say it will definitely fall further, but in this structure, the risk is asymmetrical.
$VELVET #Crash77% #LongTrap
Click the small card below to quickly check the market👇
This isn’t a minor adjustment; it’s that kind of sell-off all the way down to the kneecap.
But now, 68% of the contract positions are still long—that means most people haven’t given up yet; they’re still waiting for a “rebound.”
This situation is actually quite dangerous.
The price has been consolidating at low levels for several candlesticks. The lowest touched 0.1334, and it’s barely holding around 0.15 now. But every rebound lacks strength—the highest it reached was only 0.161 before being pushed back down.
The funding rate is still positive (0.005%), indicating that long positions are still paying interest to short sellers—longers are losing money and also tacking on extra costs.
The trading volume is not small either—more than 340 million accumulated within 8 hours—but a volume-backed sell-off usually isn’t a good sign.
What needs to be watched most now is this: if the 0.1334 low breaks again, how many of the 68% long positions will be forced to liquidate? That’s when real pressure release happens.
It’s not to say it will definitely fall further, but in this structure, the risk is asymmetrical.
$VELVET #Crash77% #LongTrap
Click the small card below to quickly check the market👇
